Published on : Saturday, April 19, 2014
This week the shareholders of airBaltic have approved the annual report of the Latvian airline. airBaltic has achieved a net profit of EUR +1 million for the full year of 2013. airBaltic has surpassed by far its original plans and has turned around the FY2012 loss of EUR -27 million, converting it into a net profit of EUR +1 million for 2013.
airBaltic has achieved profitability one year ahead of the initial schedule.
Martin Gauss, Chief Executive Officer of airBaltic: “With airBaltic reaching a profit and having its annual report approved, now the Cabinet of Ministers will decide on the retention of the profits in the airline in accordance with the currently effective legislation.”
As reported earlier, airBaltic achieved +5% better yields and +1% of unit revenue improvements over the twelve months of 2013 (RASK – revenue per available seat kilometre), when compared to the same period a year ago, and generated stable revenues of EUR 325 million, despite capacity reductions.
airBaltic serves sixty destinations from its home base in Riga, Latvia. airBaltic offers convenient connections via Riga to its network which spans Europe, Scandinavia, Russia, the CIS, and the Middle East. For summer 2014, airBaltic has introduced six new destinations – Burgas and Varna (Bulgaria), Palma de Mallorca (Spain), Bucharest (Romania), Gothenburg (Sweden), and Aberdeen (Scotland, within the UK).
EUR 2012 2013 Change
Net result* -27 mEUR 1 mEUR +28mEUR
RASK (unit revenue) 7.5 EUR cent 7.6 EUR cent +1% / 0.1 EUR cent
Yield 97.1 EUR 102.4 EUR +5% / 5.3 EUR
Passengers** 3.08 million 2.95 million -5% / 0.13 million
Revenue 325m EUR 325m EUR –