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Smiles at LuxairGroup after 2013 results
Economics

Smiles at LuxairGroup after 2013 results

19.05.2014 From our online archive
LuxairGroup returned to the black last year despite growing competition in the air travel industry, it was revealed at a press conference on Monday.
19.05.14 Bilan 2013 du Luxair Group LuxairGroup Adrian Ney et Paul Helminger, , photo: Marc Wilwert

LuxairGroup returned to the black last year despite growing competition in the air travel industry, it was revealed at a press conference on Monday.

After recording a historic loss of more than 10 million euros in 2012, things were looking up for the travel and aviation firm in 2013 when it returned a net result of 1.9 million euros.

The positive result comes largely thanks to the success of LuxairTours, Luxair and LuxairCargo.

In 2013, 556,939 passengers travelled with LuxairTours, up 1.9 percent on the year before.

Luxair's activities remain in the red (-12 million euros) but it is reducing losses compared to 2012 (-19.4 million euros) thanks to low cost flights aimed at competing with rival airlines. In 2013, 912,213 passengers opted to fly with Luxair, up 13.4 percent on the year before.

After LuxairCargo recorded losses of 3.4 million euros in 2012, the firm restored the balance in 2013, thanks in large part to the strong growth of Cargolux.

"LuxairGroup has proved by these results that it can achieve a rapid response and adaptability in difficult times, a feat that underscores the importance of the company as a regional service provider," said Chairman of the Board Paul Heminger.

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