OREANDA-NEWS. Latvian airline airBaltic has achieved a net profit in the second quarter of 2013. airBaltic has by far surpassed its original plans and turned around last year’s loss of EUR -10.15 million into a net profit of EUR +1.37 million in 2Q 2013.

 Martin Gauss, Chief Executive Officer of airBaltic: “As part of airBaltic ReShape we laid down a good track record of cost control, capacity management and efficiency gains, and with strong unit revenue and higher yields, we achieved a net profit of EUR +1.37 million in the second quarter, and an impressive improvement of the net result in the first six months of EUR +21.12 million compared to the same period a year ago. We are ahead of our schedule to become profitable in 2014.”

 airBaltic achieved +4% unit revenue improvements (RASK - revenue per available seat kilometre) over the second quarter of 2013, compared to the same period a year ago, and generated revenues of EUR 89.31million, thus achieving +3% improvement compared to the same quarter over a year ago, despite capacity reductions. Compared to 2Q 2012, airBaltic’s operating cost was reduced by 8% to EUR 78.01 million.

 airBaltic serves 60 destinations from its home base in Riga, Latvia. airBaltic offers convenient connections via North Hub Riga to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. For summer 2013, airBaltic has introduced six new destinations - Prague (Czech Republic), Heviz-Balaton (Hungary), Olbia (Sardinia, Italy), Rijeka (Croatia), Larnaca (Cyprus), and Malta.