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Sunday 18.03.2018 | Name days: Ilona, Adelīna

Last year’s airBaltic losses exceed 80 million LVL

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Last year’s losses of airBaltic are around 83.6 million LVL. These losses were mostly caused by the company’s inappropriate business model, as well as the negative affect of a number of legal proceedings.

In the first quarter of 2012, the company’s management along with international business and aviation experts developed a new business plan for the next five years. This new business plan «airBaltic ReShape» marks the airline’s future development, including modernization of its fleet, optimization of costs, increase of work efficiency, income increase and different improvements to its flight network – the plan has a total of 27 specific initiatives in 14 different fields, the Transport Ministry reports.

During the realization of «airBaltic ReShape», the company plans to consolidate 330 million LVL in the next five years (2012-2016). The goal is to restore the company’s profitability in 2014. It is planned that the «airBaltic ReShape» restructuring process will bring benefits for the airline this year already. The plan will ensure the reduction of losses up to 38 million LVL.

airBaltic’s new business plan also provides for the modernization of its fleet in the next five years, so that two new types of airplanes are used in the future – Bombardier CS300 next generation jets, and the currently available Bombardier Q400 Next Gen turbo propeller airplanes for regional flights. A modernized fleet will allow airBaltic to work more effectively and will lower expenses, as well as preserve a balance on affordable ticket prices on flights to Europe, the Middle East, Russia and CIS countries, as well as increase the frequency of flights for flights destinations that are in high demand.


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  1. Air Baltic fox says:

    Bankrupcy is a question of weeks .Suppliers are no longer paid and soon will cut fuel delivery. If you have booked a flight … TAKE CARE.

    Thumb up 0 Thumb down 0

  2. Maedhros says:

    Yeah, Gauss is a guarantee!
    Look at Malev’s fate…..

    Thumb up 0 Thumb down 0

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