airBaltic reports profit of 5.4 million euros in 2018

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Latvian airline airBaltic continued its growth in 2018 and achieved strong financial results. 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.

Martin Gauss, Chief Executive Officer of airBaltic: “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.

2018 2017 Change %
Revenue EUR 408.7 million EUR 347.7 million +18%
Net income EUR 5.4 million EUR 3.7 million +46%
Passengers 4.1 million 3.5 million +17%
Flights 56 261 50 093 +12%
Employees (year-end) 1 581 1 410 +12%

 

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.

Riga, April 2, 2019

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