airBaltic passes turnaround targets
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airBaltic has soared past its target turnaround figures for 2012 posting a loss of LVL19 million (US$35m, GBP23m) from a previous GBP103m (US$157m) loss the year before.
The GBP80m (US$122m) boost in its net result comes after the Latvian carrier put a strategy in place to return to profits, which it says is now on track for next year.
“We are very confident, as we continue to perform ahead of our plan. Last year, we consistently achieved better net results every month,” said Martin Gauss, CEO of airBaltic. “We improved our consolidated net result by LVL +66 million and our yield by +10% compared to a year earlier. We are ahead of our schedule to reach profitability in 2014.”