UK all-premium transatlantic carrier Silverjet has missed its target of turning in an operating profit by the end of March, but insists that its financial figures are showing good signs of progress.
It admits that it was “not cash-generative” during March but says that, excluding its discontinued Flyjet operations, it posted its largest gross profit and smallest operating loss since the carrier began operating multiple aircraft.
“This is solid progress towards our objective of becoming profitable as quickly as possible in a difficult market,” says Silverjet chief Lawrence Hunt, pointing out that the airline is battling high fuel prices.
Silverjet, which uses Boeing 767 aircraft on services from London Luton to Newark and Dubai, had set an end-March target by which to post its first operating profits.
It has claimed a 23% increase in passenger numbers for the month, however, with nearly 10,900 revenue seats. Silverjet adds that its load factor for March reached 65%.
Hunt says the airline has achieved the figures despite rising fuel costs and an early Easter holiday period during which business traffic normally falls.
Source: flightglobal.com's sister premium news site Air Transport Intelligence news
Source: FlightGlobal.com
