Small Planet Airlines grows revenue by more than half in 2017 H1

Lithuanian leisure carrier’s Small Planet Airlines revenue kept growing in the first half of 2017, reaching EUR118.1m – a 63.2% increase compared to the same period in 2016. Passenger flow grew by one-third and reached 871 000. The airline made a loss of EUR10.2m. This happened due to considerable investments in improving its on-time performance as well as hiring and training a growing number of crews. According to company’s executives, the loss is only a temporary side-effect created by the seasonality in aviation. Small Planet Airlines expects to reach a consolidated–revenue level of 286 million EUR by the end of 2017, with planned profit reaching 5-6 million EUR. The passenger flow should grow up to nearly 2.7 million by the end of the year.