Adria revises 2009 outlook

16% passenger decline

In the first 6 months of 2009 Slovenia’s Adria Airways carried a total of 503.438 passengers, a decline of 16% compared to the same period last year. The biggest drop in airline traffic was recorded on services to Germany and Brussels, which is chiefly a consequence of Slovenia’s Presidency of the EU, with an overall decline at these destinations of almost 20%. However, to some Ex-Yu markets Adria has recorded growth, especially on services to Skopje, Priština and Sarajevo.

Adria reports that the structure of its passengers has changed drastically compared to last year with 50% more passengers travelling on Economy rather than Business Class. This has caused ticket prices to decline by 6% compared to the first 6 months of 2008. Furthermore, 911 tons of cargo were carried which is 20% less than in 2008. The financial performance has followed the drop in physical turnover, with the first preliminary operating results from January to May showing a full 19% decline in generated revenue compared to the same period last year. In line with this, the company management believes that the airline will end the year with a loss of 3.2 million Euros.