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Air Baltic: record profits and new passenger jets

According to Martin Gauss, the Germany CEO of Air Baltic, speaking at a press conference at ITB Berlin, following the conclusion of its restructuring programme the company is on course for growth again. Last year it posted record profits in the order of around 20 million euros. The arrival of a private investor who has taken over a 20 per cent stake means that, as the majority shareholders, both he and the Latvian government will be injecting 132 million dollars of capital into the airline. This sum is earmarked for purchasing further planes. In the autumn Air Baltic intends to take delivery of its first Bombardier CS300 out of a total of 13, which with a range of 5,500 kilometres can fly non-stop from Riga to Abu Dhabi and the Canary Islands. By 2023 the company also intends to purchase seven more CS300s and two Turboprop Q400s. Following the liquidation of both Air Lituanica und Estonian Air, Air Baltic’s plans to set up a single airline for the entire Baltic region have failed until now, due to political resistance.

Rainer During


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