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View the 2011 Award Presentation above
Air Nostrum - Regional Airline of the Year 2011
In the middle of difficulty lies opportunity,” Albert Einstein said. This is exactly the approach ATW’s Regional Airline of the Year for 2011 adopted when the Spanish economy slid into a stinging recession at the end of 2008 and passenger numbers at Spain’s airports did the same. The unemployment rate in Europe’s fifth-largest economy reached almost 20% in 2009 and the GDP contracted 3.6% in the wake of the global financial crisis. In addition to this challenging environment, LCCs significantly increased their presence in the country. The combination led to an unprecedented drop in yields and pushed Air Nostrum into its first red ink in more than a decade.