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Latvian airBaltic profit grows 40% in 2018

Publicity photo.
According to the financial results for 2018, for the first time in the company’s history airBaltic has achieved EUR 400 million revenue, while the net income has grown by more than 40% compared to 2017, reaching EUR 5.4 million, says the airline’s representative Alisa Briede.

Total revenue for 2018 has grown by 18%, reaching EUR 408.7 million. There has also been a 17% increase of the number of transported passengers – airBaltic carried 4.1 million passengers last year. The number of performed flights has increased by 12%, reaching 56,261 in total. The number of the airline’s employees was 1,581 in 2018.

Martin Gauss, Chief Executive Officer of airBaltic, comments: «For the sixth year in a row we are showing a strong track record on profitability. With exceeding 400 million revenue and 4 million passengers, we are ready for future growth with our state-of-the-art Airbus A220 fleet.»

«airBaltic plays an important role in ensuring air connectivity to Latvia and the Baltics. According to a recent study by business strategy consultants Roland Berger, airBaltic contributed 2.5% to Latvia’s GDP in 2018 and supported close to 30 000 jobs. As the market leader in the Baltic region, we will continue expanding our market share by further improving connectivity between the Baltics and the rest of the world,» Martin Gauss added.

airBaltic serves over 70 destinations from Riga, Tallinn and Vilnius, offering the largest variety of destinations and convenient connections via Riga to its network spanning Europe, Scandinavia, the CIS and the Middle East. For summer 2019, airBaltic has launched new destinations from Riga to Dublin, Stuttgart and Lviv, and will add new flights to Kos and Menorca in May.

Latvian state owns 80.05% of shares in airBaltic. Danish businessman and the airline’s financial investor Lars Tussen’s owned Aircraft Leasing owns nearly 20% of shares in airBaltic.


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