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Air Algerie's turnover hit DZD 53.5 billion late July 2019

Published on : Sunday, 20 October 2019 19:06   Read : 76 time(s)
Air Algerie's turnover hit DZD 53.5 billion late July 2019

ALGIERS- The national airline, Air Algerie, achieved a turnover of more than DZD53 billion until late July 2019, up 5% compared to the same period of 2018, CEO Bakhouche Allèche said on Sunday.

 "We have achieved a turnover of DZD 53.5 billion until late July 2019. We have positive cash flow and we don’t have major problems in this regard," he said in an interview to APS.

 In 2017 and 2018, "turnover hit DZD91 billion and DZD 102 billion respectively, an increase of 12%," compared to previous years, he said.

Air Algerie top manager said that the airline "has financed its investments on equity or using banking credits it has refunded."

However, Allèche said the domestic network "weighed" on the airline’s outcomes as its share accounts for only 10% of the airline's turnover, while nearly half of (48%) of the overall budget is alloted to cover the international network.

 According to him, the air transportation sector, which is a "highly capitalistic" activity, doesn’t generate "exceptional profitability" because of its lower margins.

With regard to the renewal of the airline fleet, he said that a purchase plan has been elaborated by Air Algerie, and approved by the State shareholding council.

 "Once the funding arrangements for this plan are set, we will launch consultations with aircraft manufacturers," he said, adding that for several years now, the national airline diversified its fleet. It includes now aircrafts from Boeing, Airbus, ATR and a Lockheed cargo plane.

 

Last modified on Sunday, 20 October 2019 20:37
Air Algerie's turnover hit DZD 53.5 billion late July 2019