airBaltic announces business reshaping

airBaltic has announced plans to reshape its business to return the airline to profitability and sustainable future development at North Hub Riga.

“In the past few years airBaltic achieved unprecedented growth that turned Riga into the only functioning transit hub in the Baltic region. However, it came at a cost to the airline. airBaltic has now been stabilised,” explained Martin Gauss, chief executive officer of airBaltic. “Currently, we are focusing on reshaping our business, to achieve improvements of LVL 330 million in the next five years, and return to profitability in 2014.”

The new business plan, airBaltic ReShape, outlines the future development of the carrier, including fleet modernisation, cost optimisation, operational efficiency, revenue enhancement and network improvements.

airBaltic will modernise its fleet to operate two types of aircraft in the future, the Bombardier Q400 NextGen turboprop for regional flights, and either the Airbus A319 or Boeing 737NG. The modernised fleet, says the carrier, will allow it to operate more efficiently and retain focus on affordable tickets to Europe, Middle East, Russia/CIS, and increase flight frequencies to high demand destinations.

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