newstodate.aero
Oct 28, 2013 (newstodate): The Latvian carrier airBaltic is in the fast track towards realizing its goal of regaining profitability from 2014.
airBaltic has thus by far surpassed its original plans and turned around last year's loss of EUR 26.72 million into a net profit of EUR 0.72 million in the nine months Jan-Sept 2013.
During January-September 2013, airBaltic achieved four percent unit revenue improvements, compared to the same period in 2012, and generated revenues of EUR 255.96 million, thus achieving a two percent improvement y-o-y, despite capacity reductions.
With the continued improvements in its operational and financial performance, the carrier is strengthening its position in its ongoing search for a future partner to acquire a stake in the carrier.
Owner of the carrier since December 2011, the Latvian state plans to sell the minority stake in airBaltic while retaining 50 percent and a golden share in the carrier.
airBaltic has thus by far surpassed its original plans and turned around last year's loss of EUR 26.72 million into a net profit of EUR 0.72 million in the nine months Jan-Sept 2013.
During January-September 2013, airBaltic achieved four percent unit revenue improvements, compared to the same period in 2012, and generated revenues of EUR 255.96 million, thus achieving a two percent improvement y-o-y, despite capacity reductions.
With the continued improvements in its operational and financial performance, the carrier is strengthening its position in its ongoing search for a future partner to acquire a stake in the carrier.
Owner of the carrier since December 2011, the Latvian state plans to sell the minority stake in airBaltic while retaining 50 percent and a golden share in the carrier.