Smartwings doubled revenues last year and continued with successful restructuring

Prague, 17 October 2023
Airline company Smartwings, a.s. doubled its revenues last year to a total of CZK 19.3 billion.
As compared to 2021 when revenues from the sale of services reached CZK 8.2 billion, the result was 11.1 billion higher in 2022, which represents an increase to 234.5% of the previous year’s figure. The operating result grew to CZK 766.3 million last year, up 1.79% year-on-year. The company also saw a significant growth in the transport volume in 2022.

Smartwings, a.s. achieved a positive financial result of CZK 478 million last year, compared to CZK 630.8 million the year before, which represents a decrease of 24% year-on-year. The decrease in profit is mainly due to a substantial increase in interest expense on loans used to mitigate the impact of the covid-19 disease pandemic.

“The company has been successfully implementing a restructuring process. We expect a positive financial result in 2023 despite the challenging economic situation and unpredictable events. We are implementing additional measures to this end and seeking to diversify potential future risks. The success of the restructuring so far is primarily due to the employees who deserve recognition and praise for that,” says Ing. Jiří Jurán, MBA, Chairman of the Board of Smartwings, a.s.

Smartwings, a.s., the largest Czech airline and a member of the Smartwings Group, has been present on the market for 26 years. Other airlines in the Group include Smartwings Poland, Sp. z.o.o., Smartwings Slovakia, s.r.o., and Smartwings Hungary, Kft. Smartwings Group operates a fleet of 43 airplanes.

Smartwings Group served 5.2 million passengers last year, more than a double as compared to the previous year. The company carried another 849,000 passengers on board its aircraft on behalf of other carriers. Smartwings Group operated 33,361 flights in 2022, landing at 213 airports around the world. Last year, the company again successfully passed a rigorous operational safety audit by IATA, an international air carrier association. Companies participating in the IATA Operational Safety Audit (IOSA) program must demonstrate compliance with stringent international operational safety and quality standards.