Enter Air signs a contract with Itaka for USD 75 million

Enter Air, Poland’s largest private airline has signed a two-year cooperation agreement with Itaka Holdings. The contract’s estimated value in its first year is USD 75 million.

“We have been working with Itaka for 5 years without interruption. This year’s contract is roughly 11% larger than the contract due to expire in April of 2019, and it is a natural step in the direction of continuing collaboration between our two firms”, says Andrzej Kobielski, Management Board member of Enter Air. “The new contract has been signed for further two years. During the first year, i.e. for the Summer 2019 – Winter 2019/2020 season, jointly with Itaka, we plan to deliver a tourism program worth roughly USD 75 million. In turn, we hope that our cooperation will continue to expand and bear fruit in the following year in the form of even higher volumes. In line with our previous announcements, we expect to see higher passenger traffic in 2019 and this Contract is a means of achieving this goal”, he adds.

The Air Charter Agreement relates to the sale of seats on chartered aircraft. This is in addition to Contracts already signed between Enterair and a number of the largest tour operators in Poland. In December 2018 an annex was executed to the Contract signed previously with TUI Poland. The value of the annexed contract is USD 129.9 million. In that same month, a contract was also signed with Rainbow Tours with an estimated value of USD 45.1 million. Prior to that, the carrier also entered into a contract with Coral Travel Poland for the Winter 2018, Summer 2019 and Winter 2019/2020 season. The estimated value of that contract exceeds USD 27.3 million.

In keeping with the signed Contract Enter Air will provide this Tour Operator with flight traffic services for passengers and their baggage. The total value of services under the Contract signed with Itaka Holdings cannot be determined as its final value may differ from the estimates stated above. Under this contract, settlements will be made on an ongoing basis in accordance with the schedule for the various charter flights.