BEAUTY IN THE FRIDGE

airBaltic stays in the red for first half of the year

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airBaltic has 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.

Just 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.

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Martin Gauss, chief executive of airBaltic , said: “Even though our revenue in the first six months of 2021 has further decreased, this summer has seen more promise, as we managed to carry a larger number of passengers than in summer months of 2020 and reduce our net loss three times compared to the six months of 2020.

“With the significant cost reduction carried out in 2020 and focusing only on the Airbus A220-300, we are now in a much better position for the future return to normal.

“Our 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,” Gauss added.

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.

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