Martinair Reports Increased Net Profits.Business Editors SCHIPHOL, The Netherlands--(BUSINESS WIRE)--March 4, 2004 Martinair Martinair is an airline based in Amsterdam, the Netherlands. It operates passenger and cargo services to over 50 destinations worldwide, of which more than 20 are in the Mediterranean area. succeeded in generating a net profit of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 9 million in 2003, representing a year-on-year improvement of EUR 6 million in comparison with 2002 when a net profit of EUR 3 million was achieved. Operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. amounted to EUR 21 million in 2003 (2002: EUR 23 million). In terms of results, both cargo and passenger operations lagged slightly in relation to last year's levels. Cargo prices came under pressure as a result of the low dollar exchange rate and fierce competition on some routes. This could be partially compensated by a volume increase of 9% to 2,692,700 revenue freight ton kilometers (RFTKs). This achievement can be largely attributed to market growth in the Far East and (Latin) America. Although less than expected, European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. charter operations did grow in 2003 in comparison with 2002. Unfavorable economic developments certainly had an impact. The new A320's were well received. This will make it possible to considerably expand the number of Mediterranean destinations. Longhaul operations to the Caribbean, Florida, Canada and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. clearly displayed healthy growth. However, fares came under heavy pressure on these routes as a result of increased competition. On balance, passenger volume rose by 3% to 730,069 revenue passenger kilometers (RPKs). Effective 2003, Martinair's subsidiary Tampa Cargo Tampa Cargo (acronym of Transportes Aéreos Mercantiles Panamericanos) is a cargo airline based at José María Córdova International Airport in Medellín, Colombia. It is a specialized all-cargo airline transporting flowers from Latin America to Miami, as well as general Airlines SA has been completely consolidated in the results since Martinair now has a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail . Tampa contributed positively towards operating profits. Interest charges for 2003 amounted to EUR 13 million, representing a year-on-year decrease of EUR 6 million in relation to 2002. In 2004, the fleet will be expanded to include an additional MD 11 special freighter for cargo operations. A third A320 aircraft will be added to the passenger fleet in 2004 to replace the leased Boeing 757 which has been returned to the lease company. Editorial note: For more information please contact Martinair's spokesman, Erik van Doeselaar, at tel: +31(0)20-6011799 or mobile at +31(0)6-53958240. |
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