AirBaltic reported a 48% profit growth in 2018

AirBalticLatvia’s airline airBaltic reported a 48% profit growth in 2018 of 5.4 million EUR. The airline revenues amounted to 400 million EUR, which is 18% more than in 2017. In addition, airBaltic transported 4.1 million passengers in 2018, representing an increase of 17% YoY.

“Another good year for the company that we are proud of”, said the CEO of airBaltic, Martin Gauss.

The airline will cease the operations of Boeing 737 aircraft. Thus, the Airbus A220-300 will remain the only aircraft in the company’s fleet.

At the end of 2018, airBaltic has already abandoned the use of three Boeing 737-500. Now the company has six Boeing 737-300 and two Boeing 737-500.

“Airbus A220-300 is our future aircraft. When we stop using the Boeing 737, airBaltic will have the newest fleet of jet aircraft in Europe”, said also Martin Gauss.

AirBaltic is the flag carrier of Latvia, with its head office on the grounds of Riga International Airport in Mārupe municipality near Riga. Its hub is at Riga International Airport with further bases at Tallinn Airport and Vilnius Airport. AirBaltic operates direct year-round and seasonal flights from Riga, Tallinn, and Vilnius, mostly to metropolitan and leisure destinations within Europe. Long-haul flights are not operated.