Business Irish

Tuesday 12 December 2017

CityJet soars high as it breaks wet-lease barrier

CityJet, the Dublin-headquartered airline, has surpassed its target to have most of its business derived from wet-lease operations by the end of the year. (Stock picture)
CityJet, the Dublin-headquartered airline, has surpassed its target to have most of its business derived from wet-lease operations by the end of the year. (Stock picture)
Dearbhail McDonald

Dearbhail McDonald

CityJet, the Dublin-headquartered airline, has surpassed its target to have most of its business derived from wet-lease operations by the end of the year.

CityJet, which opens a new crew base in Tallinn, Estonia, in the summer, had aimed to have at least 80pc of its aircraft operating on wet lease and charter services by year end. However, wet leases - where a third party provides crew and aircraft to a client airline - now accounts for more than 80pc of the airline's business.

"It's a far cry from the past when a solitary contract with Air France supplemented the airline's extensive scheduled - and own-risk - network," said CityJet Chief Commercial Officer Cathal O'Connell.

"Aviation is a numbers business and our latest statistics show that 33 of our 44 passenger aircraft - up from 18 in 2015 - operate on wet-lease contracts.

"In 2015, we employed just over 500 staff. Today that figure is in excess of 1,200," he added.

CityJet will this month incorporate a new wet-lease service with KLM Royal Dutch Airlines on the Amsterdam to London City Airport route.

The once troubled airline was bought from Air France in early 2016 by current executive chairman Pat Byrne and other investors.

Sunday Indo Business

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