Adria Airways posts profit last year as it sells its brand

Adria Airways posted a E3.23m net profit last year, bouncing back from a E9.19m loss in 2015. As the airline saw the number of passengers drop by 11% compared to the year before, the profit is attributed to E7.6m in revenue from the sale of the Adria Airways brand. Adria serviced a total of 1.1m passengers in 2016, which is 10.99% less than in 2015. Cabin occupancy in scheduled transport was 65.51%, down from 67.95% in the year before. Revenues amounted to E155.23m, which is a 1.94% growth compared to 2015. Revenues from passenger transport were down by 6.27% to E134.91m, while operating profit amounted to E4.12m, up from an operating loss of E9.37m in the year before. The net profit in the amount of E3.23m is attributed to one-off positive effects related to the sale of assets above the book value. <br/>