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Pin to quick picksSutton Harbour Holdings Regulatory News (SUH)

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Impact of volcanic disruption on Air South West

26 Apr 2010 07:00

RNS Number : 7480K
Sutton Harbour Holdings PLC
26 April 2010
 



 

 

 

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

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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