airBaltic Achieves Profit

22.08.2012 06:08 | Latvia

Author: Janis Vanags
Source: Air Baltic Corporation

In July 2012, Latvian airline airBaltic reported a profit, as summer travel peaks and airBaltic ReShape restructuring programme gathers pace.

Martin Gauss, Chief Executive Officer of airBaltic: “We are delighted to see that airBaltic ReShape restructuring programme brings consistently better net results every month. We are very satisfied to achieve a net profit of LVL 1.4 million.”

In July 2012, airBaltic operated 4,520 flights, or 19% less than in July 2011 when airBaltic operated 5,590 flights.

The airline carried 322,430 passengers in July. During the first seven months of 2012, airBaltic transported a total of 1,732,920 passengers.

The airline’s load factor, which represents the number of passengers as a proportion of the number of available seats, was stable high at a level of 80% in July 2012, compared to the same month a year ago. The airline’s load factor for the first seven months of 2012 was at a level of 73%, unchanged compared to the same period last year.

The 15-minute flight punctuality indicator for airBaltic was at a level of 89.5% in July 2012. This means that 89 of every 100 airBaltic flights in July departed at the planned time or with a delay of no more than 15 minutes.

		July ‘12
Number of flights		4,520
Number of passengers		322,430
Load Factor		80%
		January - July ‘12
Number of flights		28,270
Number of passengers		1,732,920
Load Factor		73%

airBalticin brief:

AIR BALTIC CORPORATION (airBaltic) is a joint stock company that was established in 1995. The primary shareholder is Latvian state with 99.8% of stock. The airBaltic fleet consists of 34 aircraft – six Boeing 737-500, eight Boeing 737-300, two Boeing 757-200, ten Fokker 50 airplanes and eight Bombardier Q400Next Gen. airBaltic offers nonstop flights from three Baltic capital cities – Riga, Vilnius, and Tallinn. airBaltic received the title of Airline of the Year 2009/2010 (Gold Award) from the European Regions Airline Association. airBaltic is the winner of Air Transport World Phoenix Award 2010 – a global recognition of excellence in restructuring business. airBaltic won a special Pacesetter Award 2010 from the Jury of the Budgies World Low Cost Airline Awards, recognising achievements of airBaltic as a hybrid airline.