Loss-making PlaneStation, owner of budget airline EU Jet, based at Kent International Airport is in talks with a tour operator to fly to the Canary Islands,Egypt and Cyprus.
It is part of its survival plan to combat debts of £25million. The company could post an annual loss of £35million on July 27 because of low passenger numbers, with just 600,000 expected by the end of the year. With only 5 jets, the firm needs 800,000 passengers to break even.
The shortfall has forced chief executive Martin May into early talks to sell a 75% stake in its 86-acre business park
Posts: 741
By: Dantheman77 - 3rd July 2005 at 10:51
Taken from the Mail on Sunday Financial pages.
Loss-making PlaneStation, owner of budget airline EU Jet, based at Kent International Airport is in talks with a tour operator to fly to the Canary Islands,Egypt and Cyprus.
It is part of its survival plan to combat debts of £25million. The company could post an annual loss of £35million on July 27 because of low passenger numbers, with just 600,000 expected by the end of the year. With only 5 jets, the firm needs 800,000 passengers to break even.
The shortfall has forced chief executive Martin May into early talks to sell a 75% stake in its 86-acre business park