airBaltic, Riga, Latvia, revenue, profit, income, record, 2017, workforce, load factor, capacity, CS300

airBaltic posts best-ever operational results

Operating earnings are “significantly increased” from €3.4 million to €20.2 million.

The Latvian airline airBaltic is proclaiming its best-ever results for 2017, “significantly increasing” its operating earnings (EBIT) by €16.8 million, from €3.4 million to reach a total of €20.2 million.

At the same time, the carrier improved its revenues by 22% to €347.7 million and increased its passenger numbers also by 22%, to 3.5 million, on 50,093 flights, up 14%.

This means that load factor rose by two percentage points to 76%. Net income, meanwhile, increased from €1.2 million to €4.6 million year-on-year.

The Riga-based carrier also boosted its employee numbers by 16%, to a total workforce of 1,388.

“Last year marks a record year for airBaltic being the clear number-one airline in the Baltic region,” commented Martin Gauss, chief executive officer.

“We are ready to take the next step by developing and improving our route map and by adding more new, state-of-the-art Bombardier CS300 jet aircraft to our fleet,” he added, referring to the world’s first aircraft of this type starting service in Riga.

New destinations
airBaltic currently serves more than 70 routes from Riga, Tallinn and Vilnius, also offering connections via Riga to its network spanning Europe, Scandinavia, the CIS and the Middle East.

For summer 2018, it has introduced eight new destinations from Riga – to Malaga, Lisbon, Split, Bordeaux, Gdansk, Almaty, Sochi and Kaliningrad. It has also launched a new direct route connecting Tallinn and London.

“airBaltic plays an important role in ensuring air connectivity to Latvia. As a result, the impact of the aviation industry on the Latvian economy has increased in comparison to previous years,” Gauss added.

“Our aim is to continue securing our position as the market leader in the Baltic region by further improving connections between the Baltic states and the rest of the world.”

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