Air Nostrum managed to reduce the strong impact of the pandemic and its effects on the aviation industry in 2021. As explained by Carlos Bertomeu, president of the Valencia company, this morning at the company’s presentation of last year’s results, Air Nostrum reduced its losses by 95% compared to 2020. If the airline had lost 140.4 million that year, In 2021, this figure has been reduced to just 7.3 million.
As for the sales figure, the annual balance shows a solid recovery compared to the first year of the covid-19 crisis. From the 256.5 million it recorded in its 2020 results, Air Nostrum went to 324.2 million in 2021.This represents a positive change of 26%, mainly due to the increase in passenger numbers.
These numbers are “better than the industry average,” as the airline president explained. to include operational costs and functionality of the fleet, thanks to the fleet’s “very complex agreements with lessors” Bertomeu added ERTE, which “allows us to keep our human capital intact.” Also in recent months, the airline has hired 75 people, mostly cabin crew.
In addition, caring for its employees was key to the volume of passengers and flights recovered in 2021. Not in vain, as the leader explains, The increase in passenger numbers compared to 2020 was in line with the market average in Spain (59% more), increasing from 1,803,000 passengers in 2020 to 2,855,000 in 2021..
However, where Air Nostrum excels within national borders is Recovery of air operations increased by 55% compared to the previous year because, as Bartomeu summed up, we “started flying earlier”. a) Yes, Valencia airline was the largest operator in the Spanish market between January and May 2021which increased the number of flights From 30,066 in 2020 to 46,710 in 2021.
The future of the company
Beyond the results in 2021, Bertomeu also described the process for granting the grant. Assistance from the Solvency Support Fund for Strategic Companies (PHASE) for provide “liquidity” and “solvability” For the effects from Air Nostrum’s covid-19 crisis. As he noted, these funds to be returned, €111 million. In addition, he added that the company currently has “30-40 million current liabilities” and is tied to another 140 million ICO loans.
On the other hand, the head of the Valencia airline also emphasized in his statement: The war in Ukraine has a strong influence on the price of fuel (kerosene) which has risen from $907/Tm to $1,395/Tm. However, Bertomeu explained that for 2022, the impact has been mitigated by Air Nostrum’s “higher-than-industry fuel coverage”.
Likewise, regarding his future plans, the leader assured: The desire to integrate under a common entity with Irish CityJet to “unite regional aviation” in Europe remains to be desired to do so “as soon as possible”.. However, as he explained, negotiations need to be held in advance, as the situation is “different” from before the pandemic. While maintaining Air Nostrum human capital and size, Irish company “shrunk in size, downsized employees and therefore reduced debt”. “This leads to new adjustment operations,” the airline president analyzed. Also in this line and although he did not reveal their names, Bertomeu assured that “already superficial contacts” were made with other companies to participate in their joint projects.
Source: Informacion
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