Tag Archives: msn 55038

airBaltic decreases its net loss threefold in the first half of 2021

airBaltic Airbus A220-300 (Bombardier CS300 - BD-500-1A11) YL-CSJ (msn 55038) (Estonia) MUC (Gunter Mayer). Image: 954826.

airbaltic has made this announcement:

As a result of the Coronavirus crisis, revenue and the number of passengers carried byย theย Latvian airlineย airBalticย has significantly decreased, and according toย airBaltic’sย unaudited consolidated financial results for the first six months of 2021, the group suffered loss of EUR 61.5 million.

Martin Gauss, Chief Executive Officer ofย airBaltic: โ€œEven though our revenue in the first six months of 2021 has further decreased, this summer has seen more promise, as we managed to carry a larger number of passengers than in summer months of 2020 and reduce our net loss three times compared to the six months of 2020.โ€

โ€œWith the significant cost reduction carried out in 2020 and focusing only on theย Airbus A220-300, we are now in a much better position for the future return to normal.ย airBalticโ€™sย core vision for the future remains the same โ€“ to be the number one carrier in the Baltics, providing the best connectivity to and from the region,โ€ Martin Gauss added.

During the first six months of 2021, the revenue of the group reached EUR 50.0 million or 40% less than during the same period last year. The number of passengers carried, and flights performed by the airline decreased by 59% and 51% respectively.

H1 2021 H1 2020 Change %
Revenue EUR 50.0 million EUR 82.5 million (40%)
Net loss EUR (61.5) million EUR (184.8) million n/a
Passengers 0.3 million 0.8 million (59%)
Flights 6 110 12 501 (51%)

Top Copyright Photo: airBaltic Airbus A220-300 (Bombardier CS300 – BD-500-1A11) YL-CSJ (msn 55038) (Estonia) MUC (Gunter Mayer). Image: 954826.

airBaltic aircraft slide show:

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. airBalticย has planned to operate flights between Riga and Tenerife three times a week with theย Airbus A220-300ย aircraft.

Destination served Flight frequency Start date Price *, GREEN Price *, GREEN Classic Price*, Business
Rigaโ€“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 seasonย airBalticย 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,ย  air Baltic group closed 2020 with a revenue of EUR 143 million, which was 72% less than the year before. The groupโ€™s net result was negative EUR 265 million. Despite the severe travel restrictions, airBalticย carried 1.34 million passengers

Martin Gauss, Chief Executive Officer ofย airBaltic: โ€œWe saw a dramatic change last year, butย airBalticโ€™sย core vision for the future remains the same โ€“ 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 planย Destination 2025 CLEAN.

We took a decision to permanently phase out Bombardier Q400ย andย Boeing 737 aircraft and became a single aircraft type operator of the Airbus A220-300 two year ahead of the original plan.โ€

โ€œWe 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 sevenย Airbus A220-300ย aircraft in 2021,โ€ 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:

airBaltic retains its position as the most punctual airline in Europe

airBaltic has retained its place as the most punctual airline in Europe and is the second most punctual in the world according to the OAG analysts. They tracked the performance of over 58 million flight records in 2018 to create a ranking of the best on-time performance (OTP) for the worldโ€™s largest airlines and airports. airBaltic has been on the top of the global on-time performance ranking for the past five consecutive years.

According to OAG, in 2018 airBaltic achieved an on-time performance rating of 89.17% for flights linking the Baltics to its network spanning Europe, Scandinavia, CIS and the Middle Least. It means that more than 89 out of 100 airBaltic flights arrived on time in 2018.ย 

Full 2019 OAG Punctuality League report can be found here: https://bit.ly/2GPL1Htย 

airBaltic serves over 70 destinations from Riga, Tallinn and Vilnius, offering the largest variety of destinations and convenient connections via Riga to its network spanning Europe, Scandinavia, the CIS and the Middle East. For summer 2019, airBaltic will launch new direct routes from Riga to Dublin, Stuttgart and Lviv. In addition, next summer airBaltic has introduced three new destinations from Tallinn to Malaga, Brussels and Copenhagen.ย 

Bottom Copyright Photo:ย airBaltic Airbus A220-300 (Bombardier CS300 – BD-500-1A11) YL-CSJ (msn 55038) BRU (Ton Jochems). Image: 943824.

airBaltic aircraft slide show:

airBaltic Airbus A220-300 (Bombardier CS300 - BD-500-1A11) YL-CSJ (msn 55038) BRU (Ton Jochems). Image: 943824.