CityJet posts losses as expansion continues

Irish carrier CityJet posted a pre-tax loss of €30.2 million ($35.8 million) for 2016, as a result of financing new aircraft, acquiring airlines and creating a new base in Scandinavia. The Dublin-based airline is in the midst of a major change in its operations, from being a scheduled regional carrier to one that primarily provides capacity for other airlines through wet leasing. Turnover for the year was €198.2 million, some 20% up on the previous year’s figure of ...