airBaltic achieved its first year of growth after implementing a far-reaching turnaround plan.
“After an intensive period of turnaround airBaltic is back on a profitable growth path," said Martin Gauss, Chief Executive Officer and the Chairman of the Board.
In 2016, airBaltic maintained its revenues (€286m) at the level of the previous business year (€285m), and improved its operational result (EBIT) by €13m, compared to a year earlier, to €3.4.
Passenger numbers by increased from 2.6 to 2.9 million travelers and the total number of flights in 2016 was 44,000 thousand, up from 43,000 in 2015.
Gauss said that the airline would have 20 new Bombardier CS300 aircraft working its routes as it replaces its fleet. Currently two CS300s are in service.
“airBaltic as an all-Bombardier operator will have one of the youngest jet fleets in Europe,” Gauss said.
The company will be recruiting around 200 new employees by the end of 2018, he added.
airBaltic serves over 60 destinations from its home base in Riga, Latvia. In addition, airBaltic also offers new direct flights from Tallinn and Vilnius.