SkyEurope losses widen on fuel costs
Vienna - SkyEurope's losses more than tripled in the latest quarter as record fuel prices wiped out rising passenger revenue, the low-cost airline said Thursday.
SkyEurope, which uses Bratislava, Slovakia, as its hub, lost a net 16.8 million euros (24.7 million dollars) in the three months ending June 30, compared to a 5.1-million-euro loss a year earlier.
"We have been forced to increase fares and cut capacity to eliminate poor performing routes," the Austria-based airline said in a statement. "Our results have been significantly impacted by the high fuel prices."
Passenger volume rose 3.3 per cent from the year-earlier quarter, but the seat load factor - a measure of the airline's use of capacity - declined, SkyEurope said. Operating revenue was up 0.1 per cent.
SkyEurope's 15 jetliners serve destinations in 19 countries, mostly in central and southern Europe. The airline took to the skies in 2002. (dpa)