Posts: 121
Joined: Tue Oct 31, 2000 7:36 am

Martinair Returns To Profitability

Fri Mar 07, 2003 5:43 am

Good result, especially after some years of losses.
It's good news that Martinair managed to return to profitability.
Hope they can maintain or improve this profitability.

Here's the Pressrelease from Martinair (

Schiphol, March 5, 2003.
Martinair generated a net profit of € 3 million in 2002. This represents a year-on-year improvement of € 16 million (2001: € 13 million loss).

Martinair's operating result for 2002 amounted to € 23 million (2001: minus € 1 million). While the operating result for the first half of 2002 only amounted to € 1 million (2001: minus € 13 million), a result of € 22 million (2001: € 12 million) was achieved for the second year-half.

The improvement in the operating result can be attributed to Martinair's cargo operations. The number of revenue cargo ton kilometers increased by 3% in comparison with 2001. Revenues from passenger operations lagged behind those of 2001. This came partly as a result of declining lease operations for third parties. The consequent increase in capacity could not be sufficiently utilized within European charter operations. Revenue passenger kilometers fell by 13% to a level of 708,922. Cost savings were achieved in 2002 for both cargo and passenger operations, partly due to lower jet fuel prices and a more favorable dollar exchange rate than in 2001. Additionally, efficiency gains were achieved.

At the end of 2002, after completion of the lease term, a Boeing 767 used for passenger operations was returned to the lease company.
In 2003, the fleet will be expanded with the addition of a Boeing 747/300 freighter for utilization in cargo operations and two Airbus 320 aircraft for deployment in the European charter market.

Posts: 1534
Joined: Thu May 20, 1999 3:49 am

RE: Martinair Returns To Profitability

Fri Mar 07, 2003 9:54 am

Great news, finally some profits.

Regarding the B747-300 freighter, is KL going to provide that?

and does anybody know how they are doing on their international flights. ie pax levels.

will they ever return to OAK and LAX?

Posts: 102
Joined: Sun Apr 29, 2001 1:59 am

RE: Martinair Returns To Profitability

Sat Mar 08, 2003 7:09 am

Their summer schedule for 2003 shows Miami and Orlando and Canada, so no U.S. West Coast (I've flown Martinair from Seattle in the past, although that was 1985, 1989, and 1994). I don't know how the pax flights are now, but I flew in 1999 from Vancouver and it was packed.

Is there a plan to replace the returned B767 or are they reducing the fleet to 5? Perhaps the A320 and B757 will fly Mediterranean routes that don't warrant the 767? Will the MD-11s see any pax work as well?

Posts: 749
Joined: Sat Aug 04, 2001 2:48 am

RE: Martinair Returns To Profitability

Sat Mar 08, 2003 8:39 am

As they do every summer season, the MD-11CF aircraft will be used on several high-yield seasonal destinations in the Mediterranean, like Palma de Mallorca, Heraklion, Faro etc. and maybe some scheduled caribbean services as well.

Unfortunately no news regarding the returned 767.......but Martinair had an option for more A320 aircraft.
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