airBaltic - Profits for the Full Year of 2013

04.04.2014 06:09 | Latvia

Author: Jānis Vanags
Source: www.airbaltic.com

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.

Reklāma

Martin Gauss, Chief Executive Officer of airBaltic: “The year 2013 will go down in airBaltic’s history as the one in which we proved that a turnaround is also possible in difficult years. We restructured airBaltic through the application of cost controls, capacity management, and efficiency gains, and we achieved an impressive net improvement of EUR +28 million on last year’s figures. We made this achievement a year ahead of the original schedule in our restructuring plan, which is the basis for our sustainable long term return to profitability.”

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*	-27m EUR	+1 mEUR	+28m EUR
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	-

airBaltic photos: http://www.airbaltic.com/public/downloads.html

airBaltic in brief:

AIR BALTIC CORPORATION (airBaltic) is a joint stock company that was established in 1995. Its primary shareholder is the Latvian state, which holds 99.8% of the stock. The airBaltic fleet consists of 25 aircraft - five Boeing 737-500s, eight Boeing 737-300s and twelve Bombardier Q400Next Gen. airBaltic offers nonstop flights from its hub in Riga, Latvia. 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 the achievements of airBaltic as a hybrid airline. In 2012, airBaltic was ranked by Airlinetrends among the Top 10 airlines globally for innovations.