'The results of the first quarter were in line with our expectations with performance in January colored by the impact of global media coverage of the volcanic activity in
* Revenue increase of 11%, total income
* Record passenger revenue
* 5% decrease in unit cost
* Fleet renewal and focus on operational efficiencies contributed to the decrease in unit cost
* EBIT result negative by
* Positive turnaround in the Cargo operation of
* Capacity increased by 21% in the passenger network, with focus on profitable markets
* Number of passengers 757 thousand up by 14%
* Number of passengers to
* Strong liquidity position of
Strong revenue generation resulted in record passenger revenue in the first quarter. Although capacity increase in mature markets put pressure on yields and load factor, the focus of the capacity increase in our network was however first and foremost on markets that contribute to strong revenue generation and profitability. We achieved a 5% decrease in unit cost where a higher proportion of efficient aircraft in our fleet, economies of scale and improved operational efficiencies contributed to the decrease. Our on-time performance was outstanding in the quarter, which is also a key factor in reducing cost and increasing customer satisfaction.
We have achieved a great turnaround in our Cargo operation that turned operating profit in the quarter with outlook being good for the year. Our Leasing operation continued to perform well, driving important revenue and profitability for the Company and reducing seasonality with improved utilization of our fleet and crew.
The year 2023 marked the final year of
With this focus, we expect increased net profit for the full year and are confident that we are on the right track to reach our long-term goals. I would like to thank our employees for their great work in preparation for the coming high season and our customers for choosing
Investor presentation
An investor presentation will be webcast in relation to the publication of the Q1 2024 results at
http://www.nasdaqomxnordic.com/news/companynews
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