Loss narrows at Air Baltic

Victoria
By Victoria April 24, 2013 11:47

Loss narrows at Air Baltic

Air Baltic has narrowed its full-year net loss to LVL19 million ($35.3 million) in 2012, marking a 77% improvement from a LVL85 million loss in 2011.
Revenue fell slightly to LVL229, while operating costs reduced by LVL58 million to LVL 248 million. Air Baltic flew 8% fewer passenger during the period; yield rose however by 10% to LVL68.3.
“We are very confident as we continue to perform ahead of our plan. Last year, we consistently achieved better net results every month. We improved our consolidated net result LVL66 million and our yield 10% compared to a year earlier. We are ahead of our schedule to reach profitability in 2014,” Air Baltic CEO Martin Gauss said.

Victoria
By Victoria April 24, 2013 11:47
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