Flyr AS - Traffic figures for September 2022
The traffic figures for September show that a total of 198,200 guests travelled with Flyr this month. The load factor was 74.1% and the punctuality was 86.2%. Demand for domestic flights in Norway is falling considerably.
"We are pleased with the demand for flights to our European destinations with many full flights and a load factor of 82 percent this month. This demonstrates that we have become a preferred airline for many leisure travelers in Norway. Unfortunately, the demand for our domestic flights in Norway with a load factor of only 54 percent is a trend that we expect will continue through the winter. That's why we yesterday announced that we are taking considerable measures to meet the challenging macroeconomic situation and reduced demand going forward," said CEO Tonje Wikstrøm Frislid.
Flyr announced yesterday that the company will adjust its winter schedule to reduce cash burn with NOK 400 million and to position itself for the spring and summer next year.
"We are entering a demanding winter season where discretionary consumer spending is expected to decrease significantly following the recent interest rate hikes, high general cost inflation and record high energy prices. This is hard-hitting to the airline industry and Flyr as a Company and will result in reduced demand for air travel. This, together with the lasting high jet-fuel prices, leaves us with no other option than to adjust our route offering for the coming winter season. Unfortunately, this also forces us to furlough several of our dear colleagues. However, our goal is to put in place voluntary arrangements to retain as many as possible. By implementing these measures, we will be well positioned to ramp-up with full force for the coming spring and summer," said Wikstrøm Frislid.
Flyr had an average of 11 aircraft in operation in September, with load factor of 74.1% and a yield of NOK 0.57. Unit revenue (PASK) in September was NOK 0.45, while the average PASK for the last 12 months was NOK 0.43.
Flyr operated 97.7% of all scheduled flights this month. The punctuality was 86.2%, where of 98.0% of all flights arrived less than one hour delayed.
Flyr's fleet counts 12 aircraft at the end of September with an average age of 4.8 years.
For further information please contact:
Brede Huser, Chief Financial Officer
Phone: +47 99 16 99 74
Email: brede.huser@flyr.com
About Flyr
Flyr is a Norwegian based low-cost carrier with a demand driven business model and a primary focus on the Norwegian market. The company targets a modern, digital, and efficient setup to ensure high operational efficiency through simplicity, optimized resource utilization and smart use of technology. Flyr AS is listed at Euronext Growth under the ticker FLYR.
To learn more, please visit www.flyr.com.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. The information was prepared by Brede Huser, CFO at Flyr AS, on 5 October 2022 at 08:00 CEST.