Ulrika Matsgård, CEO of BRA said "The fact that we have reached the goal of the company reorganisation is very gratifying news for customers, employees and partners who have been both supportive and patient throughout this process. We now look forward to continuing our important work to offer more sustainable, punctual travel opportunities with a high level of service, both domestically in Sweden and throughout Europe together with tour operators and other partners."
During the reconstruction process, BRA has had a strong focus on developing and improving its operations and strengthening its long-term financial conditions. Both customer and supplier agreements have been renegotiated, while measures to strengthen profitability have been initiated. In addition, the owners contribute a new share capital of SEK 114 million.
Per G. Braathen, Chairman and owner of BRA, said: "We are proud to have flown passengers and contributed to keeping the whole of Sweden alive for over 25 years – the ambition is to continue to do so for at least another 25 years. Braathens Regional Airlines now has very good opportunities to continue to preserve the aviation infrastructure and accessibility in Sweden, while at the same time actively driving our important sustainability work forward. I would like to extend a warm thank you to everyone who has supported us in this process."
After the reconstruction, BRA will focus on three business segments: 1) Domestic flights, where BRA has around 20 routes with Bromma Airport as its main base. In the first two months, passenger growth was +6%. 2) Charter services on behalf of tour operators such as Apollo and Ving fly travellers from Sweden, Norway, Denmark and Finland down to southern Europe as well as Egypt and the Canary Islands. 3) Manned flights for other airlines (ACMI) where BRA recently entered into an agreement with Austrian Airlines, which is part of the Lufthansa Group, for flights in and around Austria.
Nils Åberg, Administrator commented: "I am pleased to announce that BRA's reconstruction has been successfully completed. The company has implemented several measures to create financial stability, and in combination with sound business operations, I see good conditions for BRA to drive and develop the business going forward,"
