Last checked at 26 Apr 2010 07:00
For Immediate Release 26 April 2010
Sutton Harbour Holding plc ("the Group")
Impact of volcanic disruption on Air South West Limited ("the Company")
Air South West Limited, a wholly owned subsidiary of the Group, reports that the six day closure of European airspace from Thursday 15th April to Tuesday 20th April 2010 inclusive, resulted in the cancellation of all services during that period.
The Company estimates the daily cost of the disruption to be approximately £50,000. At the start of the closure period, Air Southwest had all aircraft and crews at home bases and therefore re-positioning and re-patriation costs incurred have been only minimal. Total cost to the Group will vary depending on how quickly bookings recover as we expect passenger loads to be below average in the immediate short term.
A network review is being undertaken by the Company to ascertain the extent by which these costs of disruption can be mitigated.
The Group is in currently in closed period. Results for the regeneration, marine and transport group for the year ended 31 March 2010 will be announced towards the latter end on May 2010.
Enquiries:
| Sutton Harbour Holdings plc | |
| Nigel Godefroy | Tel +44 (0)1752 204 186 |
| | |
| Evolution Securities | |
| Tim Worlledge | Tel +44 (0) 20 7071 4300 |
| | |
| Arden Partners plc | |
| Richard Day | Tel +44 (0) 20 7614 5917 |
| | |
| Winningtons Financial | |
| Paul Vann | Tel +44 (0) 7768 807 631 |