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airBaltic launches a new route from Riga to Malta, trims its 1Q net loss

airBaltic (Riga) on May 12, 2013 launched a new route from Riga to Malta. The new route will offer convenient travel between the airports, and beyond to destinations in the Baltics, Scandinavia, Russia, and the CIS.

Destination served

(from North Hub Riga)

Flight frequency Start date Price*, Basic Price*,
Business Flex

Malta

1 flight weekly May 12, 2013 59 LVL/ 85 EUR 315 LVL/ 449 EUR
* Lowest fare, including taxes, fees and service charges, on http://www.airBaltic.com, subject to availability

airBaltic will fly from Riga to Malta once a week on Sundays, the return flight from Malta to Riga will be operated also on Sundays to secure convenient connections. Passengers will board a Boeing 737-300 aircraft (above) for a flight that will last for 3 hours and 40 minutes.

airBaltic serves 60 destinations from its home base in Riga, Latvia. airBaltic offers convenient connections via North Hub Riga to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. For summer 2013, airBaltic has introduced six new destinations – Prague (Czech Republic), Heviz-Balaton (Hungary), Olbia (Sardinia, Italy), Rijeka (Croatia), Larnaca (Cyprus), and Malta.

On the financial, the struggling flag carrier stated it trimmed its first quarter net loss by over $12 million. The airline issued this statement:

Latvian airline airBaltic has improved its net result by LVL + 6.7 milllion in the first quarter of 2013, compared to the same perid a year ago.

Martin Gauss, Chief Executive Officer of airBaltic: “After improving our consolidated net result by LVL +66 million in 2012, we were again able to beat our own plan.”

For the January to March period, airBaltic achieved +41% improvement of its net result, compared to the same period a year ago. airBaltic achieved +10% yield improvement in the first quarter of 2013 compared to the same period in 2012, and generated LVL 44.5 million in revenues. The unit revenue, or RASK – revenue per available seat kilometer, was improved by +8% in the January to March period, compared to the same period a year ago.

airBaltic operated 9,685 flights in the first quarter of 2013, or 9% less than in the first quarter of 2012 when airBaltic operated 10,637 flights. In March 2013, airBaltic operated 3,442 flights. The airline carried 534,879 passengers in the first three months of 2013 in its network spanning Europe, Scandinavia, Russia, CIS and the Middle East, but in March 2013 the airline carried 201,757 passengers. The airline’s load factor, which represents the number of passengers as a proportion of the number of available seats, in the first quarter of 2013 was at a level of 63%, while in March it stood at 69%.

The 15-minute flight punctuality indicator for airBaltic was at a level of 83.9% in the first quarter of 2013. This means that 83 of every 100 airBaltic flights in the first quarter of 2013 departed at the planned time or with a delay of no more than 15 minutes.

For summer 2013, airBaltic has introduced six new destinations – Prague (Czech Republic), Heviz-Balaton (Hungary), Olbia (Sardinia, Italy), Rijeka(Croatia), Larnaca (Cyprus), and Malta.

Copyright Photo: Ole Simon/AirlinersGallery.com. Boeing 737-33V WL YL-BBK (msn 29332) taxies past the camera at Paris (CDG).

airBaltic: AG Slide Show