Good financial results for Adria

Slovenia’s Adria Airways’ management board presented to the supervisory board the business results for the period January–April 2008 and an estimate for May. The company has attained all the objectives it has set itself and is achieving better results than envisaged in the business plan, since it has generated 12% more income than planned and 9% more profit than planned. The management board informed the supervisory board of the critical situation concerning aviation fuel prices, and of the measures the management board has already taken and the measures it plans to take. By keeping costs under control and improving its results, particularly in scheduled and charter services, the company has generated almost € 6 million more income than planned and thus mitigated the unexpected growth in fuel prices. The supervisory board gave a positive assessment of the work of the management board and supported its activities to mitigate the effects of high fuel prices.

In the period from January to May 2008, Adria Airways carried a total of 430,126 passengers, which is 28% more than in the same period last year and 7% more than the figure in the business plan, and operated 15% more commercial flights. The company operated a total of 9,633 commercial flights. Income from scheduled flights increased by € 2.8 million above the figure in the business plan, while income from charter flights grew by an additional € 2.1 million. The company also generated € 1.2 million more operating income than planned. Despite the clear increase in income from operations, fuel costs have increased by over 37% as a result of the higher price of kerosene and now amount to 22% of the company's total costs.