Air Namibia made profit of N.dollars 20m last year

10 Feb 2015 09:10am
WINDHOEK, 10 FEB (NAMPA) - Air Namibia made an operating profit of N.dollars 20 million in the 2014 financial year.
The company’s acting Managing Director, Rene Gsponer told a media briefing here on Monday that the national airline recorded a significant turnaround in its financial performance, with operating profit growing by 19 per cent last year.
The national airline’s new fleet was ranked third in the world last year in terms of on-time arrivals and on-time departures.
In this respect, the company had improved to over 95 per cent in efficiency, compared to the world average of 90 per cent during the last 18 months.
Last year, Namibia acquired a new fleet of two Airbus A330-200 aircrafts.
Gsponer attributed this achievement largely to the national airline’s reliable on-time performance.
Financially and operationally, Air Namibia has gone through very rough times over the past two decades, with the government having to constantly bail them out to keep them in business.
Last year, the Namibian Government approved N.dollars 1.81 billion as further financial support to the national carrier.
Apart from recording an operating profit, the national airline made a loss of approximately N.dollars 80 million during its low season, which stretches from October to December.
Of the N.dollars 80 million, approximately N.dollars 50 million was lost due to the drop in travels caused by the Ebola scare.
“The market size decreased in 2014, compared to the same period in 2013 due to the Ebola scare,” explained Gsponer.
Air Namibia’s most-affected market was Europe, which decreased with 11 per cent; while the American market declined by seven per cent, and the United Kingdom went down by five per cent.
The 2014 Ebola epidemic was the largest in history, affecting multiple countries in West Africa.