Aerotravel: The crisis will mostly affect the leisure segment

“This planned increase is based on new clients in our portfolio and a wider market share. I believe the leisure segment will be affected by the crisis, because people will tighten their holiday budgets. For the business segment we will attempt to optimize the travel and event planning budgets of companies that work with us, so they will be able to continue as our clients,” said Gabriel Cristea, the company’s Chief Executive Officer.   

“The financial crisis has not affected us in 2008, but we expect it to be more obvious in 2009. IATA [the International Air Transport Association], is estimating an 8.5 percent rise in traffic in 2009. Competition is fierce in Romania,” Cristea added.

Aerotravel registered €30.5 mln in turnover in this year’s first ten months, up 18 percent year-on-year. Company officials estimate €35 million in turnover in 2008, and a 7 percent share of the Romanian market, ranking second after Happy Tour, which claims 8 percent of the market. The agency’s competitors include Paralela 45, J’Info Tours, and Eximtur.