Estonian air navigation services provider sees H1 profit drop 20 pct y-o-y

Photo: TV3

The net profit of Estonia's state-owned air navigation services provider Lennuliiklusteeninduse AS was 1.3 million euros in the first six months of 2013 which represents a 20 percent decrease compared to 1.64 million euros in the same period last year.

The company's operating income was 8.88 million euros which is 2 percent less than in the first half of 2012, it appears from data posted on the webpage of the company.

Cash flows from business operations grew by 16 percent year-on-year to 2.9 million euros.

The company employs more than 170 people and its labor costs totaled 3.9 million euros in the first six months.

Lennuliiklusteeninduse AS served a total of 90,943 flights in the Estonian airspace from January to June, 4 percent fewer than in the first six months of 2012. Incoming and outgoing flights numbered 16,622 and domestic flights 3,866.