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.
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.
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