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Meridiana, Scaramella expects loss to more than halve by the end of 2013

During a press conference, the CEO of the company, Roberto Scaramella, defined himself as "very satisfied" with the restructuring process undertaken and said that the forecasts are to halve the net loss at the end of 2013

Meridiana, Scaramella expects loss to more than halve by the end of 2013

Meridiana expects to "more than halve" the net loss at the end of 2013 compared to 2012 when it was equal to -190 million euro; in 2014 the goal is to achieve operational equilibrium, with further improvements in subsequent years. This was stated by the CEO of the company, Roberto Scaramella, who during a press conference described himself as "very satisfied" with the recovery process undertaken. "Seven months ago, when I was appointed, the company was ready to ask for an arrangement with creditors, today we can talk about development".

"This summer - underlined Scaramella - we recorded a significant increase in traffic thanks to the correct repositioning of the company on a single brand, that of Meridiana, and thanks to a return to a traditional offer". In particular, between June and August, the routes to Sardinia recorded a traffic increase of 16% on an annual basis, with peaks of 40% on international routes. On all domestic routes operated by Meridiana, the company increased its revenues by 10-15%.

In these seven months, continued Scaramella, the company has reduced its debt by a third and its cost structure by 10-15%: in particular, the debt with suppliers has dropped from 150 to 100 million, that with is stabilized at 70 million. Currently Meridiana has about 900 people, out of 2500, on extraordinary layoffs: this winter they will rise to a maximum of 1350.

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