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airBaltic receives Regional Airline of the Year Award by CAPA

BC, Riga, 06.12.2019.Print version
The Latvian airline airBaltic received the CAPA Regional Airline of the Year award in a special ceremony in Malta on December 5, 2019, BC learned from the company.

For the second time, airBaltic has been recognized as the leader of the regional aviation sector by CAPA's Aviation Awards for Excellence which is held annually since 2003 with professionals participating from airlines around the world.

Martin Gauss, Chief Executive Officer of airBaltic said that airBaltic's market share in the Baltics this year has reached 37%, ranking airBaltic the No 1 airline in Latvia and Estonia with 60% and 21% of market share respectively. 

CAPA Chairman Emeritus Peter Harbison said at the ceremony that airBaltic combines an LCC cost base with a compelling business class product, while its route network meshes point to point demand with a hub and spoke model. "Its growth and return to profit, built on a strong market share in its home market of Latvia and the wider Baltic region, should certainly attract investor interest,” he said.

airBaltic's destinations from Tallinn, Riga and Vilnius altogether number over 80.

The primary airBaltic shareholder is the Latvian state, which holds 80.05% of the stock, while Lars Thuesen holds around 20% through his fully-owned Aircraft Leasing 1.

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