The figure was net profit for the first six months of the year, comparing very favorably with a 12 million euro loss during the same period in 2013.
The improved result came despite a 7% drop in passenger numbers to 1.26 million from 1.34 million.
The airline's German CEO Martin Gauss told reporters at Riga that trade had been affected by events in Ukraine but that nevertheless he was happy with the result.
“The geopolitical turbulence in the east creates a very challenging market environment for airBaltic, where we see our transfer passenger numbers going down. Despite this, we have achieved significant cost savings through capacity management, cost controls, and efficiency gains," Gauss said.
"The positive result we have achieved will help us adapt further to the market conditions, and improve our point-to-point product for the winter season.”
Due to the situation in Ukraine and associated problems with Russia, airBaltic reduced capacity and discontinued flights to Odessa, Simferopol and Kaliningrad in the first half of 2014, but still serves 60 destinations from its Riga hub.
The positive results, allied with a recent decision by the European Union that aid provided by the state to save the airline had not broken EU rules, would make it much easier to attract a buyer for the airline, Gauss said.
