The year 2013 was the most successful year in the history of the leisure carrier Small Planet Airlines. The airline posted a profit of EUR 2.6 million with it’s income increasing by 52% from 2012 to EUR 127.5 million in 2013.
Small Planet Airlines made a profit of EUR 2.6 million during theyear, whereasin 2012 it suffered losses of EUR 2.2 million. Gross profit margin doubled when compared to 2012. The company’s net profit margin amounted to 2.1% in 2013, whereas the same indicatorwas negative (-2.7%) in 2012.
"Rebound in economy, change of fleet to A320s and more flights from existing and new clients have been the major factors for success in 2013.” said Vytautas Kaikaris, CEO of Small Planet Airlines.
Small Planet Airlines will use a total of 11 aircraft – nine Airbus A320 and two Boeing 737-300 – to carry passengers during the year 2014 from airportsin Great Britain, Lithuania, Poland and Italy. One aircraft will be usedas a back-up unit.
Small Planet Airlines expects continued improvement in profitability this year.Since the management buy-out in March of last year, the airline has reduced its long-term debt by more than half and is expecting to pay down all of its remaining long-term interest bearing debt before the end of this year.
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