Brief: PLAY Expets Operating Profit In H2 2022
17/03/2022 06:15
March 17 (Reuters) - Fly Play hf PLAY.IC :
* SAID ON WEDNESDAY DESPITE THE CHALLENGING BUSINESS
ENVIRONMENT
ANTICIPATES THE LATTER HALF OF 2022 TO YIELD A POSITIVE EBIT
MARGIN AS ITS TRANSATLANTIC HUB-AND-SPOKE OPERATION BECOMES
OPERATIONAL
* UTILIZATION IS GROWING AND THE OUTLOOK IS POSITIVE FOR
THIS YEAR
AS THE MARKETS RELEASE THE SIGNIFICANT PENT-UP DEMAND FOR TRAVEL
BUILT UP OVER THE LAST TWO YEARS OF TRAVEL RESTRICTIONS
* AS THE NEGATIVE IMPACT OF THE COVID-19 PANDEMIC RECEDES
THE
EFFECTS OF THE RUSSIAN INVASION OF UKRAINE ARE A NEW CHALLENGE
AND THE IMPACT ON PLAY HAS SO FAR BEEN LIMITED TO THE INCREASE
OF THE PRICE OF OIL
* ESTIMATES THAT BASED ON THE CURRENT MARKET SITUATION, THIS
WAR-RELATED PRICE INCREASE WILL RAISE ITS COSTS BY AROUND 10
MILLION USD THIS YEAR
* CURRENTLY, PLAY DOES NOT HAVE ANY PLANS TO RAISE
ADDITIONAL
FUNDS
Source text for Eikon: urn:newsml:reuters.com:*:nGNE6QnHg7
Further company coverage: PLAY.IC
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))