New-look Debonair narrows its losses

Click to follow
The Independent Online
DEBONAIR, the low-cost carrier, announced that losses had narrowed in the first quarter of its financial year compared with last year's results, writes Randeep Ramesh.

The airline, based at Luton airport, put the improvement down to continued cost-cutting and rising load factors. Franco Mancassola, the chairman and Debonair's founder, said the airline had been profitable in June.

Net losses were under pounds 1m in the three months to 30 June compared with more than pounds 3.5m the year before. Sales rose to pounds 11.3m from pounds 8.6m.

"The upward trend is due to the fact that our established passengers and an increasing flow of new ones, both in business and leisure categories, like us for what we are - a low-cost, high-quality airline," said Mr Mancassola.

The airline is keen to position itself as an upmarket carrier. Last month it abandoned its low-frills image by launching a frequent-flyer scheme and improving its inflight catering.

Comments