New airline Flyr lost 87.4 million kroner in the first half of 2021

New airline Flyr lost 87.4 million kroner in the first half of 2021

The newly established airline Flyr lost NOK 87.4 million in its first six months of operation. Still, it states that the result is in line with expectations.

  • A new Norwegian airline plans to take off this summer. Here’s what you need to know about FLYR

Flyr’s recent quarterly report shows a loss of NOK 64.7 million in the second quarter and NOK 87.4 million in the first six months of the year, newspaper Dagens Næringsliv writes. 

The company itself writes that the result is in line with expectations.

“Based on the feedback we have received from customers who have traveled with us this summer and our colleagues both in the air and on the ground, we are on the right track,” CEO Tonje Wikstrøm Frislid noted in a press release on Thursday morning.

Three aircraft in operation

The newly started airline reports that revenues in the second quarter were NOK 250,000, including only one day of operational activities, which consisted of four flights. Flyr now has three aircraft in operation to several destinations in Norway. From August 21, three routes to Spain and France will also be opened.

This winter, Flyr raised NOK 600 million in fresh equity. The company reports that it now has a cash balance of NOK 514.8 million at the end of the quarter.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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