To compensate the losses caused by the ongoing Covid-19 pandemic and to support overcoming the economic crisis, the Cabinet of Ministers of the Republic of Latvia, as the majority shareholder of the Latvian airline airBaltic, has today, on August 17, approved the investment of EUR 90 million into the equity of airBaltic. It is now subject to the approval of the European Commission.
Martin Gauss, Chief Executive Officer of airBaltic: “The support of our majority shareholder to overcome the crisis reflects the recognition of the positive impact airBaltic has on the economy.”
The investment is planned to be returned to the Latvian state in form of proceeds from selling shares during a planned initial public offering of airBaltic in the future.
When the pandemic started in 2020, the company performed a significant cost reduction program and preserved around 1000 employees which were required to maintain the operation of the airline. The equity received in 2020 has been used responsibly to maintain the company’s operations and cover expenses that could not have been avoided due to the Covid-19 pandemic.
airBaltic is a strategic facilitator of the Latvian economy and is responsible for more than 2.5% of the Latvian GDP. Due to the Covid-19 pandemic the number of passengers carried by airBaltic decreased by 73% in 2020, and significantly influenced company’s operations. To support the local economy, Latvian government provided and continues to provide aid to all industries heavily affected by the crisis, including airBaltic.
Ütlevad jätkuvalt, et kavatsevad börsile tulla. 2020 Juulis said EU riigiabi loa 250 000 000 EUR ulatuses, et läbi viia kapitali tõstmine. EU otsuse juures on mõned huvitavad lõigud, mis puudutavad airBalticu majandustegevust ja turuväärtust:
* Turuväärtus KPMG poolt koostatud valuatsiooniraporti kohaselt on airBalticu Enterprise Value EUR [300-400] million, samal ajal net debt EUR [250-350] million ja seega equity value [50-100] million.
* Kapitaliseerimine
Kuna erinevad covenant´d keelavad laenu võtmise, siis tehakse finantsabi aktsiakapitali formaadis:
* Covenant
2019 võlakiri (vaata allpool) sisaldab endas covenant´i, et igal hetkel peab olema minimaalne sularaha positsioon vähemalt EUR 25 miljonit. Lähtuvalt eelnevast, leidiski EC, et ca 250 m EUR on vajalik, et hoida airBaltic vee peal:
On August 15, 2021, Latvian airline airBaltic welcomed its 28th Airbus A220-300 jet, registered as YL-ABB, in Riga. This is the third out of seven planned Airbus A220-300 aircraft deliveries for airBaltic in 2021. This aircraft is a part of the 50 Airbus A220-300 which airBaltic has ordered. In addition, airBaltic holds 30 options for the same aircraft type.
Since May 2020, airBaltic operates all its flights with a single aircraft type – Airbus A220-300, thus minimizing the complexity and benefiting from the additional efficiency provided by the aircraft.
The Airbus A220-300 has performed beyond the company’s expectations, delivering better overall performance, fuel efficiency and convenience for both passengers and the staff. This aircraft offers an excellent flying experience with such benefits for passengers as wider seats, larger windows, more hand luggage space in the cabin, improved lavatories and much more.
The Airbus A220-300 has a high-quality air filtering system equipped with High Efficiency Particulate Air (HEPA) type filter that provides the best level of filtration currently available for recirculated cabin air from the very beginning of boarding, during entire flight and until all passengers have left the aircraft. The quality of cabin air is carefully controlled and is recirculated with ventilation rates that provide a total change of air 20-30 times per hour.
In addition, the new aircraft is also considerably quieter – with a four times smaller noise footprint. Moreover, at the moment it is the greenest commercial aircraft in the world, as it is the first aircraft to have a transparent declaration of the life-cycle environmental impact, helping to reduce CO2 and NOX emissions by 20% and 50% respectively.
Siin peaks nüüd vaatama milline on Riia Lennujaama kasum, kui palju on Lätis tänu ABle rohkem välisturiste, mida sellest teenivad hotellid, restoranid, poed, taksod jne. Enne ei saa lätlaste lollusele või tarkusele hinnangut anda.
"Vanaema" Siin peaks nüüd vaatama milline on Riia Lennujaama kasum, kui palju on Lätis tänu ABle rohkem välisturiste, mida sellest teenivad hotellid, restoranid, poed, taksod jne. Enne ei saa lätlaste lollusele või tarkusele hinnangut anda.
Kuidas pooltühja lennuki Tallinnast Stockholmi ja tagasi lennutamine Riia hotelle täitma peaks?
"Vanaema" Siin peaks nüüd vaatama milline on Riia Lennujaama kasum, kui palju on Lätis tänu ABle rohkem välisturiste, mida sellest teenivad hotellid, restoranid, poed, taksod jne. Enne ei saa lätlaste lollusele või tarkusele hinnangut anda.
2019 aastal Riia lennujaama kasum oli ca 20mln, sellest ca 5mln on otsesed toetused. Ilmselt võib arvata, et suur osa ülejäänud kasumist tuli AirBalticu kahjumlikkest lendudest.
"Vanaema" Siin peaks nüüd vaatama milline on Riia Lennujaama kasum, kui palju on Lätis tänu ABle rohkem välisturiste, mida sellest teenivad hotellid, restoranid, poed, taksod jne. Enne ei saa lätlaste lollusele või tarkusele hinnangut anda.
Kuidas pooltühja lennuki Tallinnast Stockholmi ja tagasi lennutamine Riia hotelle täitma peaks?
Kas nad on tänaseks kõik lennud Riiga kinni pannud ja nende põhiline äri on Tallinn-Stockholm lennud?
"MLindepuu" Kas nad on tänaseks kõik lennud Riiga kinni pannud ja nende põhiline äri on Tallinn-Stockholm lennud?
Kõiki ei ole, kuid raha määritakse hoogsalt laiali ka mujale kui Riia ja Läti bisnise edendamiseks. Stockholm ja pooltühi lennuk on lihtsalt kõige värskem mälestus.
"MLindepuu" Kas nad on tänaseks kõik lennud Riiga kinni pannud ja nende põhiline äri on Tallinn-Stockholm lennud?
Kõiki ei ole, kuid raha määritakse hoogsalt laiali ka mujale kui Riia ja Läti bisnise edendamiseks. Stockholm ja pooltühi lennuk on lihtsalt kõige värskem mälestus.
Siin peaks nüüd hindu ka teadma. Ka pooltühi lennuk võib ola kasumlik. Aga tõenäoliselt tõrjutakse Nordicat turult välja dampinguga.
"MLindepuu" Kas nad on tänaseks kõik lennud Riiga kinni pannud ja nende põhiline äri on Tallinn-Stockholm lennud?
Kõiki ei ole, kuid raha määritakse hoogsalt laiali ka mujale kui Riia ja Läti bisnise edendamiseks. Stockholm ja pooltühi lennuk on lihtsalt kõige värskem mälestus.
Siin peaks nüüd hindu ka teadma. Ka pooltühi lennuk võib ola kasumlik. Aga tõenäoliselt tõrjutakse Nordicat turult välja dampinguga.
ee..Nordica ju ise ei lenda, mismoodi sa saad turult välja tõrjutda kedagi keda pole turul?
Ongi juba välja tõrjutud. Aga ootab hetke, kui lätlaste rahapõletamine läbi saab. Mulle on jäänud mulje, et Hololei on Läti spioon - kiidab lätlastele takka ja keerab Eestile sxxta.
"Vanaema" Ongi juba välja tõrjutud. Aga ootab hetke, kui lätlaste rahapõletamine läbi saab. Mulle on jäänud mulje, et Hololei on Läti spioon - kiidab lätlastele takka ja keerab Eestile sxxta.
välja tõrjus ta end ikka ise, kui peaale EA löppu enam oma nime all ei lennanud. Sellist rahapesu kontorit Eesti ei vaja ei täna ega tulevikus. Kui turul on nõudlust, see täidetakse, paku soodsaid lennujaamamakse ja ennäe imet, turul on proovijaid jalaga segada.
"Vanaema" Ja milles see rahapesu seisneb? Ning miks Läti vajab palju suuremat rahapesukontorit?
selles, et omad joped ja teenuste pakkujad saavad suuri palkasi ja teenustasusi, parteid makseid ning Eesti tiik saab ainult arveid maksmiseks. Või väidad sa, et mingiele Rootsi jne. siseliinidele peale maksmine toetab kuidagi Eesti majandust?
Praegu teenivad kõik lennufirmad kahjumeid ning ega me täpselt ei tea, mis tulevik toob. Hinnanguid võib anda 10 a pärast. Rootsi vm kindla tuluga (reisijatest sõltumatud) siseliinid on hetkel suhteliselt kindel äri ja peale neile ei maksta.
Ja millised parteid neid makseid saavad? Palun esitada nimekiri + summad.
"Vanaema" Praegu teenivad kõik lennufirmad kahjumeid ning ega me täpselt ei tea, mis tulevik toob. Hinnanguid võib anda 10 a pärast. Rootsi vm kindla tuluga (reisijatest sõltumatud) siseliinid on hetkel suhteliselt kindel äri ja peale neile ei maksta.
Ja millised parteid neid makseid saavad? Palun esitada nimekiri + summad.
jajah, äkki annaks ka korteri võtmed, kus varandus asub? Riik ei pea mingeid Rootsi siseliine opereerima, seda võib teha eraettevõte. Alati saab teenuse sisse osta, ka lennuliini kui seda väga vaja on, selleks ei ole vaja sadu mille tuulde loopida. Ma ei näe hetkel ühtegi argumenti, miks riik peaks omama Nordica sugust lennufirmat, mis kuhugi ei lenda, turiste ja ärireisijad siia ei too ja charterreiside turu andis ilmselt mõnede sidrunit eest käest ära.
airBaltic is aiming for its initial public offering (IPO) to take place at the earliest in November 2024, CEO Martin Gauss told ch-aviation in an exclusive interview at the carrier’s HQ at Riga Airport. In the meantime, ACMI/wet lease will continue to be an integral part of its business model, as will providing connectivity for four countries (Estonia, Finland, Lithuania and Latvia) and the emergence of other revenue streams to offset the impact of the war in Ukraine.
Riga. During January 2023, the Latvian airline airBaltic has carried 246 800 passengers or by 67% more than during the same period last year. In the previous month airBaltic performed 3 030 flights – 22% more than in January 2022.
Martin Gauss, President and CEO of airBaltic: “The first month of the year has started very confidently, clearly marking our on-going growth path. The demand is stable and with an upward trend, which means that in 2023 we will continue to expand – in terms of fleet size, passengers carried, flights performed, destinations served, and employees recruited.”
“International forecasts show that the aviation industry is maintaining its rapid post-pandemic recovery. airBaltic, as an airline of ambition, will take advantage of this favorable situation, while simultaneously demonstrating our strong position in the Baltic market and a wide range of connectivity options to Europe and beyond,” Gauss added.
KPI // January, 2023 // January, 2022 // Change Number of passengers // 246 800 // 147 400 // +67% Number of flights // 3 030 // 2 480 // +22%
Riga. Summarizing the key statistics and events of 2022, the Latvian airline airBaltic announces that the previous year has continued the company’s purposeful growth, also contributing to a return or even exceeding various pre-pandemic results. The following report overlooks data and information (such as passengers, flights, destinations, fleet, cargo, employees, technical and operational achievements, and other), that represent the operations of airBaltic in 2022.
Martin Gauss, President and CEO of airBaltic: “Although characterized by the simultaneous need to adapt the changing world and seek growth, 2022 proved to be challenging, but rich year. The past 12 months have been full of positive milestones – beginning with the on-going increase of carried passengers and operated flights, continuing with opening a new base in Tampere and launching fresh routes to Marrakesh, Gran Canaria and Batumi. Definitely, reaching new destinations would not be possible without new aircraft, thus, last year the fleet of airBaltic attained already 39 Airbus A220-300, and we welcomed our 50-millionth passenger.”
“Important to highlight, that 2022 was also a year of an international attention – for instance, receiving the International Air Transport Association’s Diversity & Inclusion Team Award, and the Skytrax Award for the best airline in Eastern Europe gave a great honor to airBaltic. However, we did not stop there, as airBaltic had an opportunity to once again confirm the excellent cooperation with Airbus, by jointly participating in Farnborough Airshow, Istanbul Airshow and demonstration tours in Australia, Asia and Africa. Also, our collection of NFT collectibles Planies were spotted globally,” M. Gauss added.
“Nevertheless, we are full of strength, ideas and determination, by looking ahead to 2023, and our core goals remain – to ensure the best connectivity between the Baltics – one of the key European business centers of the future – and the world, as well as maintain improved passenger experience and deliver a considerable contribution to the economy. This year we will expand, launching 18 new routes from Riga, Tallinn, and Vilnius, and offering up to 70 direct routes in total,” Gauss concluded.
In 2022, airBaltic has carried 3 342 200 passengers or by 105% more than in 2021. During the last 12 months, the airline performed 37 300 flights – 59% more than the year before.
KPI // 2022 // 2021 // Change Number of passengers // 3 342 200 // 1 628 000 // +105% Number of flights // 37 300 // 23 440 // +59% The most popular destinations were Amsterdam, Barcelona, Dubai, Lisbon, London, Paris, Rome, Tallinn, Tenerife, and Vilnius.
Since the first Airbus A220 joined the company’s fleet in late 2016, airBaltic has carried over 10 460 000 passengers on these aircraft, of which over 3 025 000 last year. A220s have completed more than 120 300 flights and flown above 263 000 block hours, of which respectively nearly 35 000 and 71 000 last year.
To this day, airBaltic is the largest air cargo and mail carrier in Riga Airport, which has resulted in more than 10 000 tons of cargo and mail delivered during 2022. In total, airBaltic carried more than 750 000 bags of mail within its network, among which more than 100 000 bags (approximately 600 tons) originated from Ukraine, thus marking excellent cooperation with Ukrposhta, the national postal service of Ukraine.
Undeniably, the airline’s Call Center plays a significant role in providing services of quality. It employs 100 specialists, who handle incoming calls, messages and e-mails in 7 languages (in Latvian, Lithuanian, Estonian, English, German, Finnish, and Russian) daily. Throughout 2022, the total amount of inquiries served were around 1 145 800.
Questions and inquiries regarding airBaltic operations are also received on social media. Last year, the social media support specialists faced up to 31 200 interactions. At the same time, the total number of followers on the company’s most powerful communication channels – Facebook, Instagram, Twitter, LinkedIn and TikTok – increased from 587 900 (January, 2022) to 864 900 (December, 2022). The highest rise was recorded on TikTok, from 8 300 to 228 600 followers.
In 2022 airBaltic recruited 931 employees, and the overall amount of the team reached 2 143 professionals. A total of 226 vacancies were published, receiving more than 16 800 applications and conducting 3 660 job interviews. Moreover, it is essential to note, that 48 graduates of the airBaltic Pilot Academy joined the company as First Officers in 2022.
The average age of people working at airBaltic is 35 years, but the average seniority level reaches 6 years. Until now, 8 employees have been working in the company since its establishment in 1995. The proportion of gender equality is 46% women and 54% men. Today members of 30 nationalities work at airBaltic, including 50 Ukrainians, who have joined the company due to Russia’s invasion in Ukraine.
The Latvian national airline airBaltic has started the year 2023 with positive business indicators. airBaltic has achieved EUR 104.3 million revenue, which is by 74% more than in 2022, as well as the highest ever recorded revenue in the first quarter of a year in the airline’s history. At the same time, the carried passenger number was 77% above the first quarter 2022.
Martin Gauss, President and CEO of airBaltic: “Current indications reflect that the first quarter of 2023 has exceeded our expectations and airBaltic is on the way back to persistent profitability. For us the target and ambition is clear – EUR 700 million revenue in 2023 and a significant increase in carried passengers up to 4.4 million. In this way, the company will return to pre-crisis state and a positive result.”
“Looking ahead to 2023, we continue the successful course towards reaching IPO in 2024. Our core objectives remain unchanged – to ensure the best connectivity between the Baltics – one of the key European business centres of the future – and the world, as well as enhance the passenger experience and deliver a fundamental contribution to the economy,” Gauss added.
During the first three months of 2023, airBaltic has carried 769.6 thousand passengers or, as mentioned already before, by 77% more than during the same period last year. The total number of performed flights has increased by 28% – to 8.70 thousand. That includes also 94 flights of a short-term wet leased aircraft of other airlines.
Revenue Jan-Mar 2022: 59.9 million Jan-Mar 2023: 104.3 million Change %: 74%
During March 2023, the Latvian airline airBaltic carried 289 600 passengers or by 80% more than during the same period last year. In the previous month, airBaltic performed 3 100 flights, marking a 30% increase from March 2022.
Martin Gauss, President and CEO of airBaltic: “We are pleased to see a significant increase in passenger numbers during March and we are delighted that more and more people are choosing airBaltic as their preferred airline. As airBaltic has opened 20 new routes from all its four bases, we anticipate even higher passenger increase during the summer season.”
Number of passengers March, 2022: 161 100 March, 2023: 289 600 Change %: 80 %
Number of flights March, 2022: 2 380 March, 2023: 3 100 Change %: 30 %
This week, the Latvian airline airBaltic is participating in NFT NYC 2023 conference, which takes place in New York, The United States of America on April 12-14, 2023.
Martin Gauss, President and CEO of airBaltic: “Last year, airBaltic launched its second NFT (non-fungible token) collection called Planies. Since then, we have received great feedback and significant interest in the project from all around the world, and we continue to pioneer the NFT field in the aviation industry.”
“This year, we are taking a step further in the tokenization of our loyalty program airBaltic Club and integrating Planies in it. Therefore, we are glad and honoured to have been invited to share our experience at one of the largest industry events globally – NFT NYC 2023,” Martin Gauss added.
During the event, this Friday, Martin Gauss will host a keynote presentation on airBaltic introducing the world’s first airline NFT loyalty program.
airBaltic has always been an innovative and in a way disruptive airline, which is consistently searching for new ways to innovate and inspire others. Since 2014, airBaltic is the first airline in the world accepting Bitcoin and other crypto currencies to purchase flight tickets. Later in 2021, airBaltic became the first airline globally to issue NFTs.
The airline’s second NFT collection Planies are a special cartoon aircraft design collection of 10 000 one-of-a-kind digital collectibles stored on the Ethereum blockchain. Powered by airBaltic, every joyful Planie is a unique artwork, generated from 180 different traits, such as wings, engines, a mouth, eyes, and many more.
To bring added value to the collectors, all holders of Planies collectibles are able to enjoy various travel-related benefits of the airBaltic Club loyalty programme, including loyalty points, vouchers and other surprising privileges. Furthermore, by owning 25 Planies NFTs, one can have the top-tier VIP status in the loyalty programme.
Lähema paari aasta jooksul võib Baltikumi mitu suuremat börsiettevõtet lisanduda: AirBaltic + vbla veel mõni riigiettevõte Lätist; Infortar ja Alexela + vbla veel mõni kinnisvarasektori ettevõte ja mõni startup-exit, pankade lisaemissioonid Eestist; ??? Leedust;
airBalticu järgmine sihtkoht: börs airBalticu tiim eesotsas ettevõtte juhi Martin Gaussiga käis äsja külas Nasdaq Riia börsil. Nimelt plaanib lennuettevõte varsti läbi viia IPO ehk aktsiate esmase avaliku pakkumise ja just seetõttu tehti ka tutvumisvisiit börsile. Soovime airBalticule sel teekonnal tuult tiibadesse!
Praeguse plaani järgi viiakse IPO läbi järgmisel aastal.
