newstodate.aero

Aug 27, 2021 (newstodate): The Latvian carrier airBaltic has published its unaudited consolidated financial results for the first six months of 2021.
   As a result of the Coronavirus crisis, revenues and the number of passengers carried by the Latvian airline airBaltic have decreased significantly, and the group suffered a loss of EUR 61.5 million.
   During the first six months of 2021, the revenue of the group reached EUR 50.0 million, down 40 percent, y-o-y, while the number of passengers carried and flights performed by the airline decreased by 59 and 51 percent, respectively.
   What is continuously rising is, however, the airline's aircraft capacity, with deliveries of new Airbus A220-300 aircraft continuing unabashed by the shortfall of revenues and passengers.
   The airline thus took delivery of its 29th Airbus A220-300 aircraft only on August 21, 2021; the 30th aircraft is already in its flight test program, and two more will be delivered at Riga before the end of this year.   
   airBaltic is energetically expanding its network of destinations - but due to the sustained Covid-19 situation, cabins are mostly filled by travelers at economy rates, while the profitable business travel segment remains slow in recovering.
   Most of the new destinations are, therefore, tourism-oriented and seasonal only.