Airport, Analytics, Baltic, Good for Business, Latvia, Tourism, Transport

"We expect to carry more than five million passengers this year and generate revenue of EUR 500 mln," said Gauss, adding that in the first nine months the airline carried 22% more passengers than a year ago and offered flights to new destinations such as Stuttgart, Dublin and Lviv.

He said that in August, airBaltic successfully issued EUR 200 mln in bonds, which strengthened the company's liquidity and significantly helped the airline continue its sustainable growth path in line with its Destination 2025 business plan.

Gauss pointed out that overall, the aviation market remains very competitive and every airline in the world is striving to become more efficient. Airlines are under significant pressure to keep their fares low, so the industry invests USD 15 bn a year in research to create ever more efficient aircraft.

"As one of the world leaders in innovation and efficiency, we have earned global attention. Efficiency reduces our costs and allows us to provide lower flight prices, as well as further reducing fuel consumption and carbon dioxide (CO2) emissions, which is becoming an issue more relevant to European passengers," said Gauss.

As reported, airBaltic profit last year increased 46% to EUR 5.4 mln, while the airline's turnover rose 18% to EUR 408.7 mln.

airBaltic serves over 70 destinations from Riga, Tallinn and Vilnius.

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