Air Nostrum 2018 net profit up 46% on cost reduction, market strategy

Spain’s Air Nostrum reported a 2018 net profit of E19m (US$21m), up 46% compared to 2017. Air Nostrum, which is an Iberia franchised carrier for regional flights, took in E501m in revenue, up 9.4% year-over-year. The airline cited pricing effects, cost reduction and flight program redesign strategies for the results. In addition, the company said the improved numbers were because of a concentration on profitable markets and routes, as well as the increase of load factors. Air Nostrum president Carlos Bertomeu said the results reflect “that we must persevere in the fight for competitiveness to consolidate the company as the leader of European regional aviation.” July 26, The EC approved the proposed merger of Air Nostrum and CityJet, a move that brings the creation of what will be Europe’s largest regional airline one step closer. <br/>