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SkyEurope enjoys profitable fourth quarter, narrowed full-year loss
A profitable fourth quarter helped SkyEurope Airlines narrow its full-fiscal-year loss to €24.1 million ($35.6 million) from the €57.3 million suffered in the 12 months ended Sept. 30, 2006.
Full-year revenue rose 27.4% to €236.2 million against just a 4.2% lift in expenses to €226.6 million. Fuel costs actually declined 5.2% even in the face of a capacity increase thanks to a fuel hedge that expired in August and a weak US dollar, the carrier said. Operating loss improved to €20.9 million from €55.5 million in the 2005-06 fiscal year.