Budget airline Go loses pounds 1m a month
Wednesday 08 September 1999
The airline's first set of financial accounts, published yesterday, show that Go made a pre-tax loss of pounds 19.95m for the 17-month period to 31 March this year. Sales in the period were pounds 31.6m.
That compares with losses of pounds 5.5m on turnover of pounds 17m in Luton-based rival easyJet's first year of trading, and the pounds 15.5m loss incurred by Debonair in its first year of operations on sales of pounds 14m.
Barbara Cassani, Go's American-born chief executive, earned a total salary of pounds 281,000 for the period, including an undisclosed bonus which was linked to certain performance targets.
Ms Cassani said that as of the end of March, Go had used up less than half of the pounds 25m dowry it had received from British Airways when it was launched as a company in November 1997.
Since the launch of actual airline operations in May last year, Go's fleet has grown from four to 12 aircraft, while it is now carrying 200,000 passengers a month and the staff total stands at 550.
Ms Cassani said she planned to launch a maximum of five new routes this year in addition to the 12 routes Go already operates from Stansted airport. New services to Prague and Barcelona begin this month.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 MH370: 'Putin ordered plane to be flown to Kazakhstan space port,' conspiracy theory claims
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...