Blue Air climbs towards 100m euros

Low cost airline Blue Air, held by businessman Nelu Iordache, registered turnover worth over 70 million euros in the first three quarters of the year, more than double against the same period last year, when business amounted to 30 million euros. The company has increased its estimates for this year from 80 to 90 million euros, after both its occupancy rate and number of flights increased. “The average occupancy rate stood at 86% in the first nine months of the year, compared with 77% last year,” said company representatives. Blue Air targets 900,000 passengers this year, double last year’s level. During the summer of last year, Blue Air operated 50 flights a week, however this number has now reached 75. “By the end of the year, we will operate 85 flights each week, after we increase the number of flights on some of our routes, and introduce new flights to Torino Caselle (from Bucharest and Bacau) and to London and Stuttgart (from Bucharest and Arad), as well as to Treviso,” said company representatives. The company continues to derive significant revenues from its charter flights, and has contracts with travel agencies. “We predict 20% of turnover will be accounted for by charter flights this year”. Blue Air officials also revealed they are holding sales talks with investment funds, but are still keeping the option of a floatation open, after talks with Greek-based Aegean Airlines failed to result in a deal.