Impact of volcanic disruption

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 15^th April to Tuesday 20^th 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 [phone]
Evolution Securities
Tim Worlledge	Tel [phone]
Arden Partners plc
Richard Day	Tel [phone]
Winningtons Financial
Paul Vann	Tel [phone]

 

 

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