Airport, Good for Business, Latvia, Transport

Last year, the company's turnover went down 8%, as compared with 2013, when airBaltic turned over EUR 278,805,614.

Profit increased more than five times, as compared with 2013, when the company earned EUR 2,020,506.

The company's board suggests using last year's profit to cover losses incurred over the previous years, according to the airline's management report.

In 2014, airBaltic operated more than 42,000 flights and carried 2.65 million passengers.

2014 was full of challenges due to the Russian-Ukrainian conflict, which left a negative impact on the demand from both countries.

According to the airline's business plan, airBaltic expects operating profit and positive net financial results this year as well.

The company's board and its current shareholder are actively working to attract a private investor, thus, reducing the controlling interest of the majority shareholder and improving the company's capital structure.

airBaltic is a joint stock-company established in 1995. Its primary shareholder is the Latvian state, which holds 99.8% of the stock.