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Saturday 01.10.2016 | Name days: Lāsma, Zanda, Zandis
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airBaltic earned more than EUR 19 million last year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvian national airBaltic airline is currently as stable as it has ever been. This is demonstrated by revenue indexes – more than EUR 19 million were earned by the company last year, says Transport Minister Uldis Augulis.

In his interview to Rīta panorama programme of LTV, Augulis said there will always be concerns about the airline, because the aviation industry is influenced by many factors. Nevertheless, airBaltic is a stable company: its revenue indexes are good and it works with success.

The minister said that airBaltic was on the second place in Estonia in terms of the number of carried passengers two weeks ago. Now it is on first place. The company continues developing its presence in Lithuania as well, experiencing rapid growth of 14%, as reports by lsm.lv.

Latvian airline airBaltic achieved a net profit of EUR +19.5 million for the full year of 2015, significantly surpassing results a year earlier of EUR +10.7 million and ensuring sustained profitability for the company.

Martin Gauss, Chief Executive Officer of airBaltic, says: «airBaltic has been profitable for three consecutive years. This is an excellent foundation to build on, as our Horizon2021 business plan takes full motion this year.»

airBaltic’s business plan Horizon2021 gained a new momentum recently as the airline’s share capital was increased to EUR 256 million. This enables airBaltic to modernise its fleet and introduce 20 all-new Bombardier CS300 jets, with the first aircraft arriving later this year. Our all-Bombardier fleet will be instrumental in improving the connectivity of the Baltic region with Western Europe and the Eastern markets. As part of the Horizon 2021 plan, airBaltic will operate 11 direct routes out of Tallinn and Vilnius in the next five years, in combination with convenient transfers via Riga.

In 2014, airBaltic worked with turnover of EUR 254,179,669 and revenue of EUR 10,668,043.

As previously reported, a shareholders agreement was signed between Latvian government and German investor Ralf Dieter Montag-Girmess was signed at the beginning of February. In accordance with the agreement, the German investor has invested approximately EUR 52 million into airBaltic.

Ref: 102.109.109.7582


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