September 9 (SeeNews) - Bulgarian Airways Group [BUL:B2GA], the majority owner of flag carrier Bulgaria Air, said it turned a consolidated net profit of 2.8 million levs ($1.4 million/1.4 million euro) in the first half of 2022 after booking a consolidated net loss of 20.7 million levs in the same period of last year.
The group's total revenue increased to 144.3 million levs in January-June of this year from 81.2 million levs a year earlier, Bulgarian Airways Group said in an interim financial statement last week.
Expenses also rose, by an annual 23.6% to 102 million levs, due to higher costs of materials and hired services.
Bulgarian Airways Group's total assets amounted to 877.7 million levs at the end of June, up from 801.8 million levs a year earlier.
Apart from the flag carrier, of which it owns 99.99%, the group has eight other subsidiaries, including Bulgaria Air Maintenance and Bulgaria Air Technic. As at end-June, it also owned 42.5% of Silver Wings, and airline catering joint venture with LSG Lufthansa Service and Alpha Airport Services, 24.9% of maintenance and repair joint venture Lufthansa Technik, 49% of ground and cargo handling joint venture Swissport Bulgaria and 44.99% of travel software firm Amadeus Bulgaria.
Dividends from these investments amounted to 1.69 million levs in 2022 against 1.29 million levs in 2021.
Bulgarian Airways Group is part of diversified holding Chimimport [BUL:CHIM].
(1 euro = 1.95583 levs)