Business strategy of Small Planet Group of airlines pays off with profits soaring

The group has recorded the highest profit in its history and the outlook remains strong. Liquidity is at a record high and there is no long-term interest bearing debt on its balance sheet. Whilst Small Planet‘s revenue grew modestly from the year before (9.2%), its profit before tax reached €8.2m compared with €1.7m for the 2013 financial year. The pre-tax profit margin grew to 5.4% in 2014 from 1.3% for the prior year. The improved performance was achieved as a result of decisions to slow down on growth, focus on existing customers, and improve the quality of flight operations. Two legacy Boeing 737-300 aircraft were replaced by newer, more reliable and efficient Airbus A320 aircraft. Plus, one additional Airbus A320 aircraft was added as a dedicated standby unit, resulting in improved on-time performance and flight operations.