Adria Reports Loss for 2017, Ends Geneva Service

By , 12 Sep 2018, 14:52 PM Business
Adria Reports Loss for 2017, Ends Geneva Service Wikimedia - Konstantin von Wedelstaedt CC-by-2.0

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Two pieces of Adria Airways news are being reported by Ex-Yu Aviation

September 12, 2018

First, the carrier has announced a net loss of a net loss of €5.44 million for 2017, a significant reversal from its profit of €3.2 million in 2016. This number came despite a 1.7% increase in revenue, to €159.2 million, and is being blamed on a 7.8% in operating expenses, mainly due to high fuel prices. Adria's CEO, Holger Kowarsch, who took over as the company's manager in February of this year, remained optimistic that the firm would be able to navigate the changing market conditions, and soon return to profit. Many more details, including passenger numbers and the busiest routes, can be found here.

In the second story, Adria has announced that it will stop all scheduled flights to and from Geneva, with the last service being tomorrow, September 13. As Ex-Yu Aviation notes, “the route was initially envisaged as a year-round service”.

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