WARSAW – Charter airline Enter Air and one of the biggest polish travel agencies Rainbow Tours have signed a cooperation agreement for the Summer 2022 – Winter 2022/2023 season.
The estimated value of the agreement is USD 35.6 million (approx. PLN 159.5 million).
The agreement was concluded for a definite period until 30 April 2023 and regulates the provision by Enter Air of air transport services for passengers and luggage.
The total value of services under the agreement cannot be established and its final value may differ from the above-mentioned estimates.
Settlements under the agreement will be made on an ongoing basis and in accordance with the schedule of individual charter flights.
“We continue cooperation with one of the largest travel agencies operating on the Polish market. Rainbow Tours is our partner for many years, with whom we have carried several million customers on vacation together, says Andrzej Kobielski, member of the board and chief commercial officer of Enter Air.
“The agency has prepared an attractive offer abounding in proven destinations such as Greece, Turkey, Canary Islands, Egypt, Tunisia, Montenegro, Albania, and thanks to the availability of new slots we have increased the commercial program with further connections. Very popular with customers connection to Kenya will also be realized this year”.
Enter also recently released its financial results for 2021. The carrier achieved revenue of PLN 1.12 billion ($269.5 million), which happened for the third time in the history of the Polish charter airline’s operations.
Operating profit before interest on interest-bearing liabilities, taxes, and depreciation (EBITDA) amounted to PLN 98.1 million ($21.5 million), while net loss exceeded PLN 100 million ($22.5 million) and eventually amounted to PLN 117.1 million ($26.2 million) due to the impact of foreign exchange losses.
Enter Air has PLN 190 million ($42.8 million) of cash in its bank accounts and unused credit lines of PLN 41 million ($9.1 million).
In April this year, we celebrated another anniversary of Enter Air. We are present on the Polish and European skies for 12 years carrying millions of passengers, often operating in conditions where the key to success was rapid adaptation”, said Grzegorz Polaniecki, director and board member of Enter Air.
“Especially in the last two years, a great effort of the entire team was required to survive.”
“We have repeatedly demonstrated that our business model gives us the flexibility to operate relatively well even in turbulent times compared to the rest of the aviation market.”
“During the pandemic, we flew twice as many flights as anyone else in Europe and this significantly increased the recognition of our Polish brand. We are very proud of it”.
Enter Air is the largest private airline operating in Poland and a leader in the tourism market in the country. The Group provides connections for leading Polish and foreign travel agencies, flying to more than 30 countries from Iceland and Portugal to Kenya and Cape Verde. The carrier has six permanent operational bases: in Warsaw, Katowice, Poznań, Wrocław, Paris, and Zurich, and several seasonal bases, including in London, Madrid, Prague, and Tel Aviv.
The airline fleet consists of 25 Boeing B737s: 23 B737-800 and two B737 MAX 8. The airline is awaiting delivery of one B737-800 and six B737 MAX 8.