Airline’s ReShape restructuring program gathers pace
As its ReShape restructuring program gathers pace, the Latvian airline airBaltic has reported a profit for the month of July 2012. Besides the cost-saving measures being introduced since new management took control of airBaltic last year, the airline said that the peak of summer travel also contributed to the result.
Martin Gauss, CEO of airBaltic, said he was “very satisfied” to achieve a net profit of LVL 1.4 million (€2 million). The carrier operated 4,520 flights, or 19% less than in July 2011. It carried 322,430 passengers in July, bringing the total for the first seven months of 2012 to 1,732,920. The airline’s load factor was 80% (73% for the first seven months of the year).
[photo courtesy airBaltic]