April 15, 2021
The following is a press release:
Riga. Due to the historical negative impact caused by the Covid-19 pandemic, airBaltic group closed 2020 with a revenue of EUR 143 million, which was 72% less than the year before. The group’s net result was negative EUR 265 million. Despite the severe travel restrictions, airBaltic carried 1.34 million passengers.
Martin Gauss, Chief Executive Officer of airBaltic: “We saw a dramatic change last year, but airBaltic’s core vision for the future remains the same – 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 plan Destination 2025 CLEAN. We took a decision to permanently phase out Q400 and B737 aircraft and became a single aircraft type operator of the Airbus A220-300 two year ahead of the original plan.”
airBaltic Group posts EUR 264.6 million loss for 2020 2021-04-15 LETA/TBT Staff
RIGA - The group of Latvia s airBaltic national carrier closed 2020 with EUR 142.6 million in turnover, down 72 percent from the year before, while its loss expanded 29 times on year to EUR 264.6 million, according to information released by the company.
The group s EBITDAR, or operating loss before interest, taxes, depreciation, amortization, and restructuring or rent reached EUR 152.3 million in contrast to profit the year before.
The turnover of the group s parent Air Baltic Corporation shrank 73 percent from 2019 to EUR 137.915 million last year, and its loss grew 35 times to EUR 278.267 million/
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