2009 Annual Report Press Conference
2009 was just as much a year of crisis for LuxairGroup as for the rest of the industry. The 2009 financial result presented on 19 May by Marc Hoffmann, Chairman of the LuxairGroup Board of Directors, and Adrien Ney, LuxairGroup President and CEO to the press, are marked by the general slump from which the entire economy has suffered.
Marc Hoffman concluded the situation by saying that “Just like for the entire aviation industry, 2009 was a crisis year for LuxairGroup. However, thanks to its sound financial situation and its strategic repositioning efforts over the past years, the company managed to limit the consequences with innovative and flexible solutions and to guarantee jobs. Still, the violence of the crisis has its repercussions on our results.” It is without surprises that LuxairGroup’s fiscal year 2009 concludes with an operational loss and this despite the cost controlling measures launched in 2008 and an unparalleled commercial reactivity. “All LuxairGroup activities experienced daunting regressions in business and revenue”, Adrien Ney specifies, “we registered some stabilization and even a slight climb early 2010, but this won’t be able to bring us back to pre-crisis levels yet.” The situation is amplified by the fact that LuxairGroup, like the airline industry, can not react to the origins of the decrease in demand for its different services. However, the Focus 2009 program, that was launched in autumn 2008 to limit the damages of the crisis with cost cutting measures, has enabled the group to save over 17 million Euro; projects range from capacity adaptation to optimized purchasing procedures. Get annual report (english version) and appendix in PDF format
Although the operational result reports a 1.5 million euro benefit, the operational loss is close to 7 million Euro in 2009.
Get annual report (french version) and appendix in PDF format