Corendon announces cash flow improvement measures

For the Turkish leisure airline Corendon, the summer of 2022 does not seem to have gone according to plan. According to the group, it had considerable additional costs due to the sharp rise in fuel prices and the sometimes acute shortage of staff at European airports.

In an internal circular published by Airporthaber.com, the management announces further measures. Among other things, it reads: "During the winter season, the high inflation in Europe, the economic and social uncertainties, the energy crisis, the low expectations of tour operators for this period, the expected global recession and the weakening of demand, the persistently high price of the Fuel prices and airport staff shortages have prompted many airlines to overhaul their operations, as we have done. A number of financial, organizational and operational measures have been taken to bring our cash flow back to a healthy level for the winter and next summer. As a result of these actions, we believe 2023 will be a more positive year for our company, our employees and all of our stakeholders."