50 SKY SHADES - World aviation news

airBaltic – Growth and Profit in 2016

Download: Printable PDF Date: 28 Mar 2017 10:40 categories:
airBaltic – Growth and Profit in 2016 - Finance publisher
Krista Kuznecova
Country: Latvia Aircraft: Airplanes Airline: Air Baltic

The Latvian airline airBaltic has achieved its first year of growth after the successful turnaround period, and demonstrated positive results, both on EBIT and net income.

“After an intensive period of turnaround airBaltic is back on a profitable growth path and able to offer lower prices and more destinations with our brand new aircraft”, says Martin Gauss, Chief Executive Officer and the Chairman of the Board at airBaltic.

In 2016, airBaltic maintained its revenues at the level of the previous business year, and improved its operational result (EBIT) by 13 mEUR, compared to a year earlier, to the level of 3.4 mEUR. The net income reached 1,2 mEUR. airBaltic revenues were influenced by declining yields, at the same time airBaltic increased its passenger numbers by 10% to almost 3 million travelers. The total number of flights in 2016 was 44 thousand, up from 43 thousand in 2015.

airBaltic is the launch operator of the Bombardier CS300 aircraft. The first two aircraft arrived in Riga in late 2016.

“By the end of 2019,” Martin Gauss concludes, “we will have 20 Bombardier CS300. With an average jet fleet age of only 2 years, airBaltic as an all-Bombardier operator will have one of the youngest jet fleets in Europe.”


airBaltic is well positioned as a hybrid low cost carrier to continue its success in the very competitive European air transport market. Its increased capacity, efficient aircraft and low cost base will enable airBaltic to continue expansion as the No 1 Baltic carrier. The company will be recruiting around 200 new employees by the end of 2018.

airBaltic serves over 60 destinations from its home base in Riga, Latvia. From every one of these locations, airBaltic offers convenient connections via Riga to its network spanning Europe, Scandinavia, CIS and the Middle East. In addition, airBaltic also offers new direct flights from Tallinn and Vilnius.






3.4m EUR

-9.6m EUR

13 mEUR

Net income

1.2m EUR

19.5m EUR

-18.3 mEUR


2.9 million

2.6 million

0.3 million


286m EUR

285m EUR



88.7 EUR

94.2 EUR

-5.5 EUR

Load Factor





44 thousand

43 thousand



Loading comments for airBaltic – Growth and Profit in 2016...


airBaltic Growth Story Continues Also in February

The Latvian airline airBaltic in February 2018 has transported 215 839 passengers or 23% more than last year to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. This is a new...

Wizz Air Starts Its Greatest Operational Ramp-Up

IN 17 WEEKS: 21 AIRCRAFT ALLOCATIONS, 4 NEW DESTINATIONS, 700 ADDITIONAL WEEKLY DEPARTURES, 70 NEW ROUTES LAUNCHED Wizz Air, one of Europe's fastest growing airlines and the largest low cost ca...

Digital inspection procedure for engine components industrialized by Lufthansa Technik

From research project to industrialization: AutoInspect in productive use Lufthansa Technik AG has industrialized the automated inspection procedure for engine components that the company...

Boeing, Turkish Airlines Finalize Deal for Up to 30 787 Dreamliners

Turkey's flag carrier chooses the 787-9 to expand fleet, improve passenger experience Firm order puts Dreamliner program above 1,300 orders Boeing and Turkish Airlines announced they ha...


Saab successfully completed the first flight of the GlobalEye Airborne Early Warning & Control aircraft in Linköping, Sweden. GlobalEye took off on its maiden flight at 12.52 local time on...