AirBaltic’s turnover reaches 17 million euros

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AirBaltic’s turnover reaches 17 million euros

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The turnover of the Latvian national airline AirBaltic in the first quarter of 2021 amounted to 17.071 million euros, which is 76.6% less than in the same period in 2020, the company said.
Passenger revenue fell 79.6% to € 13.588 million. At the same time, it is noted that receipts from passenger traffic are in line with the airline’s expectations.

The number of AirBaltic passengers at Riga airport decreased by 91.4% in the first quarter, while the share increased by 17 percentage points. The number of passengers at Tallinn airport decreased by 83.9% (the share decreased by 5 pp – to 18%), at Vilnius airport – by 85.1% (the share increased by 6 pp). Tallinn Airport explains the decrease in passenger traffic by the relatively small possibilities of communication through Riga and the small number of transfer passengers from the Baltic countries.

airBaltic notes that due to a slower-than-expected recovery in the European aviation market, the airline has lowered its revenue forecast for the second and third quarters. At the same time, the growth of bookings in the second half of May allows the company to hope for an early resumption of work in the “dock” mode.

Since it is clear that 2021 will be a difficult year for aviation, AirBaltic has begun negotiations with the Latvian government for additional funding to offset losses caused by the pandemic in 2020 and 2021

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