SkyEurope Holding

euro adhoc: SkyEurope Holding
Financial Figures/Balance Sheet
Preliminary Results for FY 2008

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SkyEurope´s full year results impacted by record high oil prices despite significant unit cost reductions

@@start.t2@@•          Consolidated base network and rigorous cost control results in a reduced
cost per seat reduction excluding fuel of 12.2% in 2008 fully offsetting the
unit cost increase caused by record high fuel prices.  Increased fuel price
added EUR 26.6 million to our total costs and EUR 5.2 on a cost per seat basis
during the year;

•          Significant increase in aircraft and crew utilisation, with average
aircraft sectors per day increasing by 11.2% and crew utilisation increasing by

•          Continuous focus on cost controls pays off, administrative expenses
reduced by 19.5%(cost per seat reduced by 36.1%) and head count reduced from
926.5 to 696.5;

•          Despite a difficult operating and economic environment and new routes,
total passengers transported and total revenue increased by 13.6% by 10.5%

•          Load factors down 8.1pp due to weakened economic conditions and fare
price increases implemented in light of the high oil prices;

•          Ancillary revenue, an area of continued focus,  increased by 110.4% in
2008 as a range of new ancillary revenue products have been introduced to our
portfolio (85.3% per passenger);

•          New routes begin to show signs of maturity, the per seat revenue
shortfall versus 2007 diminishing each quarter in 2008 (shortfall Q3:9.5%;
Q2:19.2%; Q1:14.3%).  Forward bookings for winter 2009 are showing strong year
over year improvements;

•          Problems with the credit card acquirer continued in Q4 resulting in low
cash balances. SkyEurope has been working to resolve this and have secured a new
credit card acquirer;

•          Capacity reduction program introduced cutting poor performing routes for
seasonally weak winter months.  Capacity will be reduced by approximately 19% in
the winter 2009 period;

•          SkyEurope was awarded as the best low-cost airline in Eastern Europe and
3rd best low-cost airline in Europe according to the largest worldwide airline
survey performed by SkyTrax;

•          SkyEurope commenced a strategic partnership with MyAir aimed at
extracting operating synergies including cross utilisation of aircraft capacity,
cross ticket sales, facilities sharing and resource pooling at airports;

For the full financial report, please visit our website:@@end@@ orts.aspx

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ots Originaltext: SkyEurope Holding
Im Internet recherchierbar:

Further inquiry note:
SkyEurope Holding AG
Nick Manoudakis, CFO
Tel.:+421 915 782 432

Branche: Air Transport
ISIN:      AT0000497003
WKN:        A0F5WU
Index:    WBI
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: SkyEurope Holding

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