airBaltic announces flights between Riga and Tenerife

airBaltic's 2019 Estonia flag livery

airBaltic has announced that starting on September 2, 2021, it plans to launch new scheduled flights between Riga and Tenerife in Spain. airBaltic has planned to operate flights between Riga and Tenerife three times a week with the Airbus A220-300 aircraft.

Destination served Flight frequency Start date Price *, GREEN Price *, GREEN Classic Price*, Business
Riga–Tenerife 3 flights weekly September 2, 2021 159 EUR 209 EUR 649 EUR

*Lowest fare (one way), including taxes, fees and service charges

This summer season airBaltic will also offer new safe connections between Riga and Heraklion (Greece), Santorini (Greece), Naples (Italy) and Edinburgh (United Kingdom).

On the financial side, the airline issued this report for 2020:

Due to the historical negative impact caused by the COVID-19 pandemic,  air Baltic group closed 2020 with a revenue of EUR 143 million, which was 72% less than the year before. The group’s net result was negative EUR 265 million. Despite the severe travel restrictions, airBaltic carried 1.34 million passengers

Martin Gauss, Chief Executive Officer of airBaltic: “We saw a dramatic change last year, but airBaltic’s core vision for the future remains the same – to be the number one carrier in the Baltics, providing the best connectivity to and from the region. Last year, in the wake of the crisis, we significantly reduced our cost and adjusted the business plan Destination 2025 CLEAN.

We took a decision to permanently phase out Bombardier Q400 and Boeing 737 aircraft and became a single aircraft type operator of the Airbus A220-300 two year ahead of the original plan.”

“We look forward to an increase in travel demand that is now slightly showing some positive signals. We have developed several scenarios for the gradual market recovery. Our base scenario reduction is currently in line with the industry wide projections, and we are flexible to make further adjustments whenever necessary. To support our future return to profit, we will accept additional seven Airbus A220-300 aircraft in 2021,” Martin Gauss added.

Last year the airline connected Riga, Tallinn and Vilnius on a total of 76 routes, providing much-needed essential connectivity and cargo shipments for the region.

2020 2019 Change %
Revenue EUR 142.6 million EUR 509.0 million -72%
EBITDAR EUR -152.3 million EUR 126.4 million -221%
EBIT EUR -201.7 million EUR 27.2 million -841%
Net Result EUR -264.6 million EUR -9.1 million -2803%
Passengers 1.34 million 5.0 million -73%
Market share in the Baltics 37% 36% +1% pp
Flights 22 thousand 63 thousand -64%
Routes out of Riga, Tallinn, Vilnius 76 routes 88 routes -14%
Employees (year-end, airBaltic Group) 1.2 thousand 1.7 thousand -30%

Top Copyright Photo: airBaltic Airbus A220-300 (Bombardier CS300 – BD-500-1A11) YL-CSJ (msn 55038) (Estonia) ZRH (Andi Hiltl). Image: 947410.

airBaltic aircraft slide show: