Germanwings have completed three years of operations, during which they have created new records and have set high…
Germanwings have completed three years of operations, during which they have created new records and have set high targets for the future: since the begining of operations in Cologne, in October 2002, Germanwings has emerged as the leading airline in more than one areas. The initial fleet of six Cologne-based aircrafts has increased by 300% to 24 aircrafts for the Summer Timetable 2006, the number of employees has more than doubled, a record-number of 11,3 million passengers have flown with the German carrier, while also the number of destinations from Cologne/Bonn has more than tripled, from 11 in October 2002 to 43 in the coming Summer Timetable.
This impressive account was rendered by the low-cost airline last Monday, October 24th 2005, during a press conference in Cologne. Despite the tough times for the airline business, intense competition and increasingly high fuel costs, Germanwings have managed during the past year what seemed almost impossible: to reach in very short time and in spite if their great expansion, the profits zone.
Also for their fourth year, Germanwings have set very high targets. The number of passengers that is expected to reach 5,5 millions in 2005, should exceed 7,5 millions in 2006. The airline’s turnover, from the estimated 400 million euros in 2005, should amount to 570 million in the coming financial year. With an average turnover of 60-80 euros per passenger, as well as a seat load factor that reaches 84%, Germanwings will be also in the future in the position to avoid a price increase, despite the increased fuel costs that will be counterbalanced by an even more efficient use of their aircrafts.
The low-cost carrier has margin for further expansion in the future: last June it ordered 18 new aircrafts type Airbus A319, thus ensuring the extension of its fleet to 32 aircrafts. It was the first German low-cost carrier to choose the most modern mid-distance aircrafts in the market, achieving with the 156-seat Airbus A319 maximum productivity, efficiency and reliability, combined with more quiet and environment-friendly aircrafts.
Within 2006, the hubs in Cologne/Bonn, Stuttgart, Berlin and Hamburg will be further enforced: the new bases in Berlin and Hamburg will be substantially expanded, while the flight schedules from Cologne and Stuttgart will be optimized. Strategic goal of Germanwings is, like in Cologne and recently Stuttgart, to emerge as leading low-cost carrier in terms of market share and prices also in their two new hubs. Further goals involve a minimum market share of 30% in all airports where Germanwings aircrafts are stationed and in the mid-term to exceed the figure of 10 million passengers annually.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
