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Central Europe’s First Low Cost Airline Christian Mandl Chief Executive Officer 30th Annual FAA...
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Central Europe’s First Low Cost Airline Christian Mandl Chief Executive Officer 30th Annual FAA Aviation Forecast Conference 17 March 2005 - Washington SkyEurope Airlines
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Transcript of Central Europe’s First Low Cost Airline Christian Mandl Chief Executive Officer 30th Annual FAA...
Central Europe’sFirst Low Cost Airline
Christian MandlChief Executive Officer
30th Annual FAA Aviation Forecast Conference17 March 2005 - Washington
SkyEurope Airlines
• All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and objectives for future results, constitute forward-looking statements and are prediction of, or indicate, future events and future trends which do not relate to historical matters.
• No person should rely on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in many cases, beyond SkyEurope Airlines’ control and may cause its actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by the forward-looking statements and from past results, performance or achievements.
• These forward-looking statements are made as of the Date of this presentation and are not intended to give any assurance as to future results. None of SkyEurope Airlines, its employee and representatives assume any obligation to update these statements.
Disclaimer
Welcome on board!
SkyEurope’s home market
• 8 Central European countries and
75 million inhabitants joined the EU
on 1 May 2004
• Strong economic development
triggered by removal of borders
• Increased mobility for both tourism
and trade
• Lack of competitive ground
transportation
Krakow
SkyEurope Concept
• Started in Bratislava because:– There was a gap in the market: no schedule airline
in Slovakia after Czechoslovak separation– Proximity to Vienna (only 50 km) making Bratislava the
“Stansted Airport” of Vienna, with free parking and SkyShuttle bus– As the first low-cost airline in a low cost country, SkyEurope benefits
from a competitive cost structure
• Business development strategy:– “connecting the dots” in a multi-base network – instead of a traditional
airlines’ hub-and-spoke network– Base in Budapest since November 2003– Bases in Warsaw since May 2004 and in Krakow since September 2004– Additional bases planned in Central & Eastern Europe
Founders
• Alain Skowronek– EBA Express (Belgium):
first low cost airline in Europe;– Strategic sale to Virgin Express
in 1996; IPO in 1997;– Former General Manager of
City Bird Airlines.
• Christian Mandl– EU-related projects in
Central & Eastern Europe;– Business Development
consultancy in Bratislava.
Investors
European equity funds of:
acting as depositary for Institutional Investors
Shareholding structure:
• 52% SkyEurope Holding (EBRD and funds of ABN-Amro, EIF)• 28% Institutional Investors (held in deposit by BA-CA)• 20% Founders
SkyEurope Network
• Present in Hungary, Slovakia and Poland
• Covering 70% of the“New Europe” population
• Bases in Budapest, Bratislava, Krakow and Warsaw
• 13 aircraft in 2004
• 12 countries
• 20 destinations
• 43 routes
• 271 weekly servicesSummer 2005 network – subject to changes
Highlights of 2004
Delivered:
Close to 1,000,000 transported in 2004.
Recorded 130,000 monthly passengers in August 2004.
458% passenger growth compared to 2003.
Budapest base successfully established.
Launch of bases in Warsaw in May and in Krakow in September 2004.
Number 1 in Bratislava and Budapest
Based on airport data where available and market intelligence
Largest airline in BratislavaScheduled traffic (2004)
59%
41%
SkyEurope Other scheduled traffic
1stLargest low cost carrier in Budapest
Departing passengers (2004)
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
SkyEurope easyJet Wizz Air
1st
Strong position in Poland
Based on airport data where available and market intelligence Note: Air Polonia ceased operations on 5 December 2004
Largest low cost carrier in KrakowDeparting low cost traffic(30 Sep. - 31 Dec. 2004)
56%
44%
SkyEurope Other low cost traffic
1stLargest low cost carrier in operation
in Warsaw - Low cost traffic(1 Aug. - 16 Nov. 2004)
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
1st
X
Boeing 737 – “Miss Europe”
First Low Carrier to carry Pope John Paul II
Marketing Central Europe
SkyEurope’s key advantages
• SkyEurope benefits from:
– Low cost airline in a low cost country:unique position as de facto “national carrier” of Slovakia
– First mover advantage: 3 years of experience in Central Europe
– Recognised brand
– Multi-base network
– Presence not only on East-West but also on East-East traffic
– Strong financial investors
Quote from “The Economist”
Although Wizz Air claims that its base in densely populated Katowice will pay off, it may struggle to stimulate demand among still hard-up Poles, or to lure British and Italian passengers to drab Silesia. SkyEurope, with its first-mover advantage, is the likeliest to succeed. With low costs and ample slots at its base in Slovakia, which forfeited its national airline after splitting from the Czech Republic in 1993, it markets Bratislava as a secondary airport for nearby Vienna, allowing it to tap into demand for low-fare services from wealthier Austrians. As Christian Mandl, SkyEurope's Belgian chief executive, puts it, “We have the best of both worlds.”
“SkyEurope, with its first-mover advantage, is the likeliest to succeed.”
15 May 2004 - The Economist
Thank you
SkyEurope AirlinesIvanska cesta 26P.O. Box 24820 01 Bratislava 21Slovakia
Phone: +421 2 4850 1111Fax: +421 2 4850 1000
Chairman: [email protected]: [email protected]: [email protected] Relations: [email protected]
Contact
