· EBITDA in 2019 climbed 169.6% yoy to PLN 343.6 million
· In 2019, the carrier generated an operating profit of PLN 168.5 million and net profit of PLN 85 million
· Business with all tour operators secured for subsequent seasons
· Operations in 2020 affected by the COVID-19 pandemic
“In 2019, we solidified our position on foreign markets while remaining the undisputed leader in Poland. We are one of the largest Polish exporters of services owing to our competitive advantage of offering high-quality travel services at an affordable price. As a result, we are capable of continuing our growth and increasing our presence on key markets across Europe,” says Grzegorz Polaniecki, Management Board Member at Enter Air.
Enter Air’s revenues totaled PLN 1.6 million in 2019, up 24.6% from PLN 1.3 billion in 2018. The Company generated an operating profit of PLN 168.5 million (up 46.1% yoy) and net profit of PLN 85.0 million (up 31.9%). In 2019, EBITDA was PLN 343.6 million versus PLN 127.4 million the year before (up 169.6%).
Enter Air is the largest private airline operating in Poland and the fourth tourist airline in Europe measured by fleet size. In 2019, the carrier harnessed its fleet’s maximum operating capacity and conducted flight operations using 21 Boeing 737-800 aircraft. At the peak of the season, on account of the extensive demand generated by tour operators, four additional aircraft were leased from other carriers under a wet-lease contract. With a view to ensuring further growth and expand air operations, another Boeing 737-800 aircraft was added to the carrier’s fleet in April 2020. Currently, Enter Air’s fleet consists of 22 aircraft of this type and 2 Boeing 737 MAX 8 aircraft, which have been grounded since March 2019 in accordance with the decision made by the manufacturer and the aviation authorities.
Enter Air is the undisputed leader of the Polish leisure travel market. In 2019, according to data on leisure travel in Poland published by the Civil Aviation Authority, Enter Air carried 1.54 million passengers in charter traffic and 0.92 million in regular traffic. Travel services classified by the Civil Aviation Authority as regular are provided by the carrier to tour operators in the same manner as charter services.
For many years, Enter Air has been cooperating with the largest tour operators enjoying a stable market position. At the end of 2019, the carrier signed an annex to the current contract with Itaka Holdings, specifying the volume and value of the contract for the Summer 2020 and Winter 2020/2021 seasons. A contract with Rainbow Tours was also signed for the Summer 2020 and Winter 2020/2021 seasons and, in October 2019, Enter Air’s cooperation with TUI Poland was extended for another two years.
“April 2020 marked the 10th anniversary of Enter Air’s first flight. Since then, we have been growing steadily year after year. Our business model, which was designed during a crisis period, is based on a healthy relationship between fixed and variable costs. Embedded in our DNA is lean enterprise structure. Thanks to our successful performance in previous years, we were able to enter this year with a very stable business, enabling us to implement restructuring measures in almost 2 weeks and freeze the company in anticipation of market recovery. We are preparing to resume operations in the new reality and despite the turmoil we expect demand for our services to rebound across Europe,” says Grzegorz Polaniecki.