Latvia’s national carrier airBaltic posts €4.6 million in 2017 profit

Last year Latvia's flag-carrier airline airBaltic posted €4.6 million in net profit, up from €3.4 million in 2016. 

airBaltic was also able to significantly grow its operating earnings in 2017 (known as EBIT) by €16.8 million, reaching a total of €20.2 million.

The EBIT Margin for the airline was 5.8%. At the same time, airBaltic improved its revenue by 22% to a figure of €347.7 million, and increased the number of passengers carried by 22%. Net income increased by €3.4 million to €4.6 million when compared to the year before.
    
Martin Gauss, Chief Executive Officer of airBaltic: “Last year marks a record year for airBaltic being the clear number one airline in the Baltic region. We are ready to take the next step by developing and improving our route map and by adding more new, state-of-the-art Bombardier CS300 jet aircraft to our fleet.”

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