CITYJET POSTS LOSS DESPITE INCREASE IN PASSENGERS

Dublin-based airline Cityjet, which is wholly-owned by Air France-KLM, has posted pre-tax losses of €51.5 million, narrowly besting last year where the airline lost €63.9 million. The airline’s revenues decreased by 8% from €281.4 million to €258.9 million in the 12 months to the end of March 2010. The pre-tax loss was caused, say the directors, by “the continued severe economic environment with sharp decline in business traffic and extreme volatility in oil prices and currencies”. Nonetheless Cityjet passenger numbers increased by 6.5% to 2.1 million last year, while average fares dropped overall by 16%.