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Centralwings flies into troubles

5 March 2008

Centralwings, the low-cost airline owned by LOT flag carrier had PLN 73m of EBIT loss in 2007, up from PLN 65m a year earlier.

This was supposed to be our last year in the red. We estimated that the losses would amount to PLN 35m. Unfortunately, market conditions deteriorated substantially and our costs grew by 13.4 percent”, Waldemar Krolikowski, Centralwings CEO explained.

He pointed out that the market is consolidating. Irish Ryanair has acquired AirLingus. In Germany, the consolidation of Eurowings, Germanwings and TUI has already started. The CEO believes that Centralwings won’t be able to operate alone.

source: pb.pl

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