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International Internet Magazine. Baltic States news & analytics Monday, 28.05.2018, 12:27

Lithuania's Small Planet Airlines posts loss for 2016

BC, Vilnius, 20.04.2017.Print version
Lithuanian-owned charter carrier Small Planet Airlines posted 223.1 mln euros in revenue in 2016, up by 22.6% y-o-y, however, ended the year with a loss of 3.8 mln euros after netting a profit of 19.2 million euros in 2015, reports LETA/BNS.

“We had been growing in leaps over the past few years, and the leaps are actually unprecedented on the aviation market. Unfortunately, we did not consider the risks in connection to the launch of new Airbus A321 and suffered a loss. Frequent flight interruptions and delays on markets, such as Poland and Great Britain, upset many of our passengers,” Kristijonas Kaikaris, Small Planet Airlines CEO, said in a press release.

In his words, Small Planet Airlines intends raisin its revenue by further 21% to 280 mln euros this year.

Small Planet Group, a company owned by Vytautas Kaikaris and Andrius Staniulis, owns 100% shares in Small Planet Airlines.

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