airBaltic reports losses for the first half of 2021

Thursday, September 2, 2021

airBaltic recently reported a loss of €61.5 million for the first half of the year as the Covid-19 pandemic continues to weigh on the aviation sector. The figure is an improvement on a loss of €185 million reported for the same period last year.

Around 300,000 passengers travelled with the Latvian flag-carrier in the first half of the year, down from 800,000 over the first six months of 2021. During the first six months of 2021, the revenue of the group reached €50 million or 40 per cent less than during the same period last year.

Martin Gauss, Chief Executive, airBaltic said in a statement that even though the revenue in the first six months of 2021 has further decreased, the summer has seen more promise, as the airline managed to carry a larger number of passengers than in summer months of 2020 and reduced net loss three times compared to the six months of 2020.

He mentioned that with the significant cost reduction carried out in 2020 and focusing only on the Airbus A220-300, the carrier is in a much better position for the future return to normal. He said that the 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.

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