Arianespace has reported a loss of 193 million euros for the year ended March 2001.

The losses have been attributed to Arianespace's decision to take charges to account for rapidly deteriorating commercial conditions in the global launch services marketplace during the past months, and the impact from a stand-down in Ariane 5 flights after the launchers 10th mission was affected in July 2001. The company has posted sales of 807 million euros, according to an official release.

Commenting on the results, Arianespace chairman and CEO Jean-Marie Luton has said that an aggressive action plan to allow a rapid return to the breakeven point in the company's operations will now be put into place. In a move of solidarity, the company's board of directors confirmed its full support for a further strengthening of the its launch system, and backed its commitment to deploy measures needed for Arianespace to successfully continue operations in line with the strategic and commercial goals.

Arianespace has carried out six launches since January 2002, including the Ariane 511 mission in February that marked a resumption of Ariane 5 launches. With seven more Ariane flights scheduled for the remainder of this year, the company is set to perform a total of 13 launches in 2002.