POSITIVE PROFITABILITY SINCE ITS BUSINESS LAUNCH
PERFORMANCE IMPROVING CONTINUOUSLY
Since its business launch in 2010, Enter Air has reported positive financial results. By rapidly growing its business volume, the Group has gradually improved its performance. Enter Air’s revenues totaled PLN 1.6 million in 2019, up 24.6% from PLN 1.3 billion in 2018. In 2020, Enter Air, Poland’s biggest private airline, generated revenues of PLN 470 million, down 70.9% from the PLN 1,614.7 million generated in 2019. The Group’s operations and the activity of the whole aviation market were hindered by the COVID-19 pandemic and numerous restrictions in travel destinations, which translated into a significant decline of revenues and weakened the results for the entire year.
Revenues (PLN m)
In 2019, EBITDA was PLN 343.6 million versus PLN 127.4 million the year before (up 169.6%). In 2020, the Group achieved EBITDA of PLN 36.2 million
The Company generated net profit of PLN 85.0 million (up 31.9%) in 2019, while due to the aforementioned limitations on the market in 2020 the Company posted a net loss of PLN 154.1 million.
EBITDA and net profit (PLN m)
Revenues earned on flights procured by foreign clients make up over 1/3 of all revenues. International markets offer higher margins than the Polish market.