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Monday 19.03.2018 | Name days: Jāzeps

airBaltic concludes Q3 of 2012 with profit

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Latvian airline airBaltic achieved a net profit of LVL 4.8 million in the third quarter and expects to close the year with a better result than its original ReShape target.

The third quarter net profit of LVL 4.8 million was achieved on a turnover of LVL 70.8 million. In the July to September period, airBaltic operated 13 345 flights, or 17% fewer than the same period a year ago, and carried 920 325 passengers.

Martin Gauss, Chief Executive Officer of airBaltic: “We are delighted to see that airBaltic‘s ReShape restructuring programme brings consistently better net results every month. We have achieved three consecutive months of profitability in July, August and September, and expect to overachieve our original ReShape targets by the year end. The same period a year ago recorded a deep loss and we are very satisfied to deliver a profitable result for Q3 in 2012.”

airBaltic serves 60 destinations from its home base in Riga, Latvia. airBaltic offers convenient connections via North Hub Riga to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East.

Earlier this year, airBaltic announced its business restructuring plan airBaltic‘s ReShape to return the airline to profitability and sustainable future development at Riga, which links the Baltic region with destinations in Europe, Middle East and Russia/CIS. airBaltic‘s ReShape outlines the future development of the carrier, including the fleet modernisation, cost optimisation, operational efficiency, revenue enhancement and network improvements. By implementing airBaltic‘s ReShape, the carrier plans improvements of LVL 330 million in the five years 2012-2016. airBaltic‘s ReShape aims to return the carrier to profitability in 2014.


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  1. Wladimir says:

    A swallow does make the spring.What about the mountain of debts accumulated for nearly a decade .Latvian tax payers are not informed about it however they pay the bill.

    Thumb up 0 Thumb down 0

  2. Estonian says:

    last year 120 million€ of debt will take long time to make even. those three months doesn’t mean nothing, there is still lot of work do be done.

    Thumb up 0 Thumb down 0

  3. JPR says:

    They will have problems in the long run

    Thumb up 0 Thumb down 0

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