LV: airBaltic passenger turnover up by 20% y/y in Jan-Oct.

By bne IntelliNews November 16, 2010
According to the announcement made by company representatives, airBaltic airline transported a total of 2.8mn passengers in the first ten months of 2010, which made a 20% y/y increase. In October alone, passenger turnover increased by rather weak 7% y/y to a 0.277mn passengers. airBaltic operated 48,093 flights in Jan-Oct 2010, up by 26% y/y. Cabin occupancy rate stood at 69%, flat y/y. Last year company's passenger turnover amounted to 2.76mn passengers, which made about a 6% y/y increase. To remind, the company is in the conflict with the Riga Airport and the government for the past several months. The airport and the airline are in an ongoing conflict over LVL 5mn debt of airBaltic to RIX and airBaltic claiming LVL 7mn from RIX in damages due to unfair tariffs' policy that the airport allegedly used. Two companies were close to signing a memorandum settling the conflict, but failed to do so. At the meantime, government pressured airBaltic's CEO and co-owner Bertold Flik to openly publish the controversial airBaltic's board agreement in the local media. To remind, at the end of September PM Dombrovskis demanded that State Prosecutors Office reviews the agreement on running airBaltic board between BAS and the government, which was signed by ex-Communication Minister Ainars Slesers during his last week in office and sufficiently limits government's influence on BAS. PM stressed that it wasn't approved by the parliament, neither by the cabinet. However, in the past two month the issue got little media attention due to parliamentary elections. Baltijas Aviacijas Sistemas (BAS) controlled by airBaltic CEO Bertold Flik owns 47.2% of airBaltic shares, the rest owned by the state.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335