April 1 to September 30, the company lost Reunion € 23.9 million and expects a fiscal deficit of 27 million euros.The capital increase was to be discussed Friday was postponed to a later date, the President of the Sematra, Didier Robert, who did not consult its board of directors.
Blame it on the soaring price of jet fuel
For Gerard Ethève, CEO and general manager of Air Austral, the fuel bill is directly responsible for the financial difficulties the company. There were no errors in his management. On September 30, the general meeting of shareholders was formalized in a loss of 1.8 million euros for 2010-2011 for a turnover of 370 million euros, an increase of over 9% compared to the previous year (335.2 million euros).
Operating income from 1st to September 30th presented Friday afternoon during the traditional semi-annual supervisory board is always negative to the tune of 23.9 million euros, down 16 million euros compared to the same period last year. "The first half is often negative," Gerard Ethève procrastinate. "The projection we make today is a negative 27 million euros at year-end."
If the turnover has increased by 29 million euros, at the same time loads of activity grew by 45 million euros, 24 million (+47%) for the only position kerosene to four million rent aircraft (16%), three million for personnel costs (10%) and 13 million (+16%) for the charges.
"In the statement of these figures, says Gerard Ethève, we see that most of the loss is related to the fuel bill. The company, like all the airline industry is facing cost overruns of dramatic energy. Since late 2010 we have witnessed a dramatic rise in the price of kerosene. Historically it never remained constant and at times could vary from one to two from one quarter to another. Unfortunately, this is the case since November 2010 where it is clear that it is rather steady increase. "
Chief Executive and Managing Director of Air Austral mention in passing that all companies are housed in the same boat competition and scratches on the axis metropolis (France) - Reunion "continues the practice of slash and burn by selling TTC tickets promo covering just the price of kerosene per passenger and taxes. "
New business plan
Nevertheless, the company has no choice Reunion. It needs to save money. Banks and shareholders required before participating in any capital increase. "A consulting firm working with us to assessments for our decision-making, says Gerard Ethève. We will establish a new three-year business plan including a plan for enhanced economy of our costs. The aim is to present to shareholders and financial partners balanced accounts for future years in order to benefit from their support. "
The long-haul fleet will be reduced from six to five devices. Contrary to what was announced at the NAO, the acquisition of the B777 LR 200 is maintained. It will replace a B777 ER 200 but Air Austral has sold the third such device F. ORUN it was originally preserved. Destinations will be closed. Gerard Ethève declined for now to list them: Bangkok is already reduced from two to one flight a week, but Sydney and Noumea are in the line of sight. Some of the destinations of Air Austral provinces, Gerard Ethève evokes Bordeaux, are also on trial. But Gerard Ethève, stated there will be no removal of personal. "They will be redeployed to other areas. We will open the meeting and - Seychelles - Paris will bring a portfolio of 2400 hours of flight "