LV: airBaltic lost EUR 51mn in 2010.

By bne IntelliNews December 6, 2011
According to the data of the Latvian State Enterprise Registrar database Lursoft, troubled national air carrier airBaltic posted a net loss of LVL 35.9mn (EUR 51.1mn) in 2010. Company's turnover increased by 13% y/y to LVL 204.4mn. To compare, in 2009 net profit was LVL 6.5mn at LVL 180.6mn turnover. Financial reports also show that airBaltic had a negative own capital of LVL 19.8mn as of end of last year and that short-term liabilities exceeded current assets by LVL 44mn. Debt to suppliers and service providers as of end of 2010 increased by LVL 7mn to almost LVL 25mn.

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