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Bulgarian Airways Group's H1 cons net loss deepens tenfold on lower revenue

Author Radina Veleva
Bulgarian Airways Group's H1 cons net loss deepens tenfold on lower revenue Author: Bulgaria Air. Licence: All Rights Reserved.

SOFIA (Bulgaria), August 31 (SeeNews) - Bulgarian Airways Group [BUL:B2GA], majority owner of flag carrier Bulgaria Air, said that it recorded a consolidated net loss of 20.7 million levs ($12.5 million/10.6 million euro) in the first half of 2021, compared with a net loss of 2.4 million levs in the same period of last year.

Bulgarian Airways Group's operating revenue dropped to some 63.9 million levs in January-June, from 94.4 million levs in the comparable period of 2020, the company said in an interim financial statement on Monday.

The group's operating expenses fell to 82.5 million levs in the review period from 89.1 million levs in the first half of 2020.

Bulgarian Airways Group controls 99.99% interest in Bulgaria Air. The company also owns minority stakes in Lufthansa Technik Sofia, Silver Wings Bulgaria, and Amadeus Bulgaria.

(1 euro = 1.95583 levs)

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