The carrier, in which easyJet founder Stelios Haji-Ioannou is a major shareholder, reported a $48 million deficit for the calendar year 2016, compared to a loss of $21.9 million in 2015. Revenue rose from $65.1 million to $68.5 million.
A management shake-up last year saw the appointment of Nico Bezuidenhout as chief executive in August. He joined from a similar role at Mango Airlines, South African Airways’ budget brand, and has begun a cost-cutting programme, including a transition to smaller aircraft, route rationalisation and moving the head office to Johannesburg.
