newstodate.aero
Apr 11, 2016 (newstodate): The Latvian carrier airBaltic is preparing for taking over its first Bombardier CS300 aircraft by September 2016, as planned.
-Four CS300 aircraft are currently on the production line at Bombardier, and these aircraft will be delivered before the end of 2016, says Martin Gauss, airBaltic CEO & President.
-We have so far firmed up orders for 13 aircraft that will all be owned by the company and part of our balance sheet. We have also decided to take another batch of seven aircraft while the final decision on their method of financing has not been made yet by the Board.
-In contrast to the time when we placed the initial order, our financial situation has improved significantly. We have just completed the injection of new capital from a German investor as well as from the Latvian state and this has secured our positive equity. We have also been operating profitably for the last three consecutive years, also contributing to an improved credit rating securing lower interest rates. So all in all, our situation is today very positive, compared to earlier.
-With the first CS300 delivery, the aircraft will not enter daily commercial operations right away. At first we will let the aircraft perform flights on some selected routes for crew and airport familiarization. With the second delivery, one CS300 aircraft will be allocated to route services, and after that one CS300 will always be kept outside the daily operations to secure backup capacity, says Mr Gauss.
-Four CS300 aircraft are currently on the production line at Bombardier, and these aircraft will be delivered before the end of 2016, says Martin Gauss, airBaltic CEO & President.
-We have so far firmed up orders for 13 aircraft that will all be owned by the company and part of our balance sheet. We have also decided to take another batch of seven aircraft while the final decision on their method of financing has not been made yet by the Board.
-In contrast to the time when we placed the initial order, our financial situation has improved significantly. We have just completed the injection of new capital from a German investor as well as from the Latvian state and this has secured our positive equity. We have also been operating profitably for the last three consecutive years, also contributing to an improved credit rating securing lower interest rates. So all in all, our situation is today very positive, compared to earlier.
-With the first CS300 delivery, the aircraft will not enter daily commercial operations right away. At first we will let the aircraft perform flights on some selected routes for crew and airport familiarization. With the second delivery, one CS300 aircraft will be allocated to route services, and after that one CS300 will always be kept outside the daily operations to secure backup capacity, says Mr Gauss.