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Old 27th Feb 2008, 18:38
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eu01
 
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Centralwings posts appalling 2007 results

This thread is over a year older again. In 2007 became clear which lcc's are the dominant ones in Central-Eastern Europe. It's not SkyEurope. Neither Centralwings; they are in trouble as well.
Budget airline Centralwings incurred a loss of PLZ 73 million instead of an anticipated loss of PLZ 35 million at the EBIT level in 2007, while in 2006 the loss stood at PLZ 65 million.

"This was to be the last year in the red. We estimated losses at PLZ 35 million. Regretfully, over this period market conditions deteriorated, while costs rose by 13.4%," said Waldemar Królikowski, president of Centralwings. "Stronger companies push out weaker ones, initially from the best routes and then from the market as a whole. This could also be the fate of Centralwings," said the president of the carrier. He went on to say that the firm will not last long without engaging in the consolidation processes, but such decisions will be taken by the owner. The fate of the company will be first dealt with by the firm's supervisory board on Friday and then by LOT's supervisory board on March 4. (PB/WBJ)

1€ = 3.53PLZ
So far, the winners are Wizzair and Ryanair. Wizzair seems to cope very well, in fact its LF's are somewhat better in most cases in comparison to FR. The latter still didn't manage to create a single base in any of the Central-European countries, that gives advantage to Wizz, its CE-located bases help keep costs low.
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