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airBaltic concludes the year 2014 with EUR 9 mln profit

BC, Riga, 12.03.2015.Print version
The national airline airBaltic concluded the year 2014 with a EUR 9 million profit, which significantly exceeded the original profit forecast of EUR 4 million, as the airline's CEO Martin Gauss says in an interview with the magazine Dienas Bizness, cites LETA.

The company's turnover in 2014 was EUR 300 million, while the number of passengers continued to fall, reaching 2.8 million. airBaltic has been profitable profit two consecutive years, as compared with the huge losses during the previous years.


Gauss tells "Dienas Bizness" that 2014 was a successful year for the airline thanks to costs cuts and development of flight networks with other airlines.


Gauss also points out former airBaltic CEO Bertolt Flick's contribution in the past. Without Flick's efforts, the airline would not have been as strong as it is now, notes Gauss.


He promises to fulfill all the tasks of the airBaltic restructuring plan by 2016. However, in order to achieve this, the airline requires development and investments, Gauss says. "Dienas Bizness" reports that Gauss' contract with airBaltic ends at the end of this year.


As reported, airBaltic recorded a 1 percent increase in turnover in 2013, posting EUR 278.8 million in turnover and EUR 2.02 million in profit, according to "" data. In 2012, the company posted EUR 31.1 million in losses.


In the first half of 2014, airBaltic earned a net profit of EUR 14 million.

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