00:08Why we have chosen chapter 11 as the right method for us?
00:13Most of the targets that we are now working on are very international in nature.
00:18With chapter 11 we have a method that will actually enable us to deal with all of these issues.
00:31Let's go, what's that?
00:56My main message here and today is that there is no interruption or any changes for the
01:02air Baltic operations because of the chapter 11 filing so we will continue business as usual
01:07and on the latter point you made we are obviously very happy to have found a good consortium of
01:14financiers who really believe in our plan and are ready to engage with us so we are really looking
01:20forward to the next steps. The war in Middle East has been a huge curveball for the whole industry
01:25and the impact has really come in in two ways. First in the early stages of the war we had
01:31big
01:32big shutdowns in our traffic so air Baltic was operating scheduled flights to Dubai and also to
01:38Israel and all of that was shut down for a couple of months right after the start of the hostilities
01:45but obviously thereafter the industry has been hit with soaring high fuel prices and that really has
01:53been hurting everybody. We have already announced our schedule for next summer season so summer of
01:5827 and then you can see that there's definitely no revolution there so the adjustments we have made
02:05are fully in line with our new business plan and really the underlying philosophy for the scheduled
02:10traffic is to have a more focused network so instead of having a very big number of destinations
02:15when some of the destinations are only being operated like twice a week we're going to have higher
02:20higher frequencies and a more focused network. We are back on track we are right now in terms of capacity
02:30seat kilometers 15 to 17 percent more than one year ago so we're the only airline in the Middle East
02:37that is flying 15 to 17 percent more than one year ago flights are full full full we had in
02:44August 92 percent
02:45load factor so we're aiming at be we're aiming at 87 plus for the remaining of the year average fare
02:53about
02:54the same as last year so when cargo is booming so we we're in a good position from a revenue
03:01perspective
03:01when you talk about geopolitical tension it's not only in the UAE you have a global situation I mean the
03:08the decisions that the US and Canada are taking visas it's expecting impacting us here we see less traffic from
03:15India to Canada in students we see less traffic traffic from India into the US in terms of students
03:23so the world is bigger than what you think we think right the most important things for an airline is
03:30actually to adapt and adjust based on these shifts and we do that very quickly we've seen the pickup so
03:36the pickup has come back due to the conflict in the beginning it was dramatic but we've seen a pickup
03:41coming in that pickup is coming from the CIS from India from the local GCC countries and we see a
03:49little bit of Chinese coming in there so that's positive signs that's positive signs and that means
03:54that our occupancy is probably around between five and seven percent of where it should be so we're very
04:00excited about that demand is shifting so we see more late booking so I strongly recommend to buy early
04:05whoever buys early is going to get a great price because we see a lot of closing demand we see
04:10a lot of
04:10corporate coming to Abu Dhabi actual corporate traffic right now to Abu Dhabi is more than a year ago
04:17so but demand is shifting and we see more closing but winter is looking good
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