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Cimber Sterling flies with heavy losses
Wednesday, 14 March 2012
The Danish
ailing airline Cimber Sterling has continued its difficult times in
continued operations despite the company’s persistent fall profits. In
the third quarter the company had a loss before tax of almost Dkr100
million. This means that equity is negative with Dkr82.5 million.
The deficit is
after all an improvement over the previous year. Since Cimber Sterling
reported a minus results before tax of approx. Dkr157 million.
Management's
expectation that is the Company's director, Jan Palmer, explains in a
commentary on the accounts, that the figures meet management's
expectations.
“The
improvement is evident to the underlining view that results are okay.
But we have not yet reached the goal, a surplus and we can generate an
attractive return for our shareholders,” said in a commentary by Jan
Palmer.
Revenue was virtually unchanged at Dkr393 million in the quarter.
Cimber Sterling
in December presented a new strategic plan, among other things, that it
was going on a simpler focus of the business. This means that a
domestic flight in Denmark and Sweden as well as regional traffic to
and from Scandinavia becomes the core business.
In this
context, the carrier has launched new routes to Vaxjo and Bromma in
Sweden - and Cimber Sterling has point several new routes during the
summer.
The company's
new majority shareholder, Mansvell has after the accounting period made
additional loans of Dkr150 millions available to the airline.
Cimber Sterling
is planning to hold an extraordinary general meeting before the end of
april 2012 on the recapitalization of equity.
By Scancomark.se Team
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