From ATWOnline - once again showing that it's the low cost, no frills carriers that are the success stories of the aviation industry.
Congratulations to Barbara and the team!
Go's half-year profit climbs 51%
Dateline: Tuesday November 20, 2001
Go earned £16.9 million ($24.1 million) before taxes in the half-year ended Sept. 30, a 51% gain from £11.2 million a year earlier.
Revenues rose 44% to £128.2 million and total passengers increased 41% to 2.07 million. Internet sales accounted for 64% of the total against 48% in the year-ago period. Actual load factor, excluding no-shows, decreased half a point to 73.7%.
"Recent developments in the airline industry have presented opportunities for the low-cost sector," CEO Barbara Cassani said in a statement. "Our immediate action in reducing fares has maintained load factors across the network. We are continuing to reduce costs to protect profits in this new lower-yield environment."
In Oct. the budget airline raised its capacity by 31% versus the year-ago period to 472 million ASKs. Actual load factor remained stable at 75.5%. It declined to provide its RPK total for the month.