Estonian Air CEO: June Was First Month of Profitability Since 2010 (4)

Photo: Postimees/Scanpix
7/11/2013 9:29 AM
Category: Economy

Estonian Air CEO Jan Palmer said the company made a profit in June after three years of negative results.

Estonian Air will release its results for Q2 and the first half-year in late July, but Palmer told Eesti Päevaleht that the company had been aiming to reach the break-even point before summer - in May.

The airline did not achieve it then, but now has. It was the first time since 2010 when after all expenses, the company was in the black.

Palmer said that the half-year results were satisfactory as well and "ahead of schedule" - important, he said, for the restructuring plan and government loan.

He said the first profitable year after the poor performance of years past would be 2014.


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