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Higher expenses widen Bulgarian Airways Group's 9-mo cons net loss

Higher expenses widen Bulgarian Airways Group's 9-mo cons net loss Photo: Bulgaria Air / All rights reserved.

SOFIA (Bulgaria), November 30 (SeeNews) - Bulgarian Airways Group [BUL:B2GA], the majority owner of flag carrier Bulgaria Air, said that its consolidated net loss widened to 20.6 million levs ($12.0 million/10.5 million euro) in the first nine months of 2021 from 7.4 million levs in the same period of last year.

The company's expenses went up to 191.3 million levs in the nine months ended September 30 from 168.4 million levs in the comparable period of 2020, mainly due to higher amortisation costs, it said in an interim financial statement on Monday.

The group's revenue rose to 165.1 million levs in the January-September period of 2021 from 159.3 million levs a year earlier.

Bulgarian Airways Group controls 99.99% interest in Bulgaria Air as well as majority stakes in five more companies. The company also owns minority stakes in Lufthansa Technik Sofia, Swissport Bulgaria, Silver Wings Bulgaria, and Amadeus Bulgaria.

(1 euro = 1.95583 levs)

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