In Flight

The in-flight segment joined the Group in June 2007, with the acquisition of Alpha Group. Therefore, its contribution to consolidated figures refers to different periods in 2007 and 2008, to the detriment of direct comparison.

Change
(€m) 2008 2007 at current
exchange rate
at constant
exchange rate
Revenue 431.2 320.4 34.6% 56.7%
EBITDA 41.5 32.5 27.5% 48.5%
EBITDA margin 9.6% 10.1%
Capex 7.5 5.2 45.4% 88.9%

Annualised figures (in £m)

Revenue

Alpha Flight grossed £343.4m in 2008, an increase of 2.5% on the previous year (£335.1m). The significant growth of international operations offset part of the decline in the UK and Ireland.

Region-by-region performance was as follows:

  • United Kingdom and Ireland: : in 2008 this region reported a 21% drop in sales (£51m), from £243.1m in 2007 to £192.4m, due to the lapsed contract with EasyJet (which contributed £47.8m in 2007) and the bankruptcy of the airline Excel. Net of these two factors, growth would have been 4.1% on the previous year.
  • International1: taken together, the nine countries in this region enjoyed growth of 64.4%, closing the year with sales of £151.0m (£92m in 2007). The main drivers were Australia (+112%, with sales of £48.3m), Jordan (+24.2%, with sales of £15.3m), United Arab Emirates (+127.1% with sales of £7.4m), and Italy (+20% with sales of £35.5m). A further £15.9m was contributed by the newly acquired Air Czech Catering A.S., the Czech Republic's leading provider of in-flight food & beverage. On a like-for-like basis, the increase in international sales was 47.1%.

EBITDA

In 2008, post-acquisition streamlining and strong international growth raised EBITDA for the in-flight segment from £27m in 2007 to £33.0m (+23.6%), and the EBITDA margin from 9.2% to 9.6%.

1 Australia, Italy, Czech Republic, Jordan, Romania, The Netherlands, United Arab Emirates, Bulgaria and USA