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Good figures from Air Baltic

13% passenger growth for Air Baltic in May 1999, but load factors still remain low

Published: 6/18/1999

In May 1999, the Latvian national airline, Air Baltic, carried 17,500 passengers, representing a 13% increase over the same period in 1998. Mr Ojars Sture, spokesman for Air Baltic, said that, in May 1999, the seat occupancy rate in Air Baltic flights had been 50%: an increase of 10% compared to May 1998. It also made a total of 716 flights: 2% more than the corresponding period last year. The Latvian state has a controlling stake of 51.02% in Air Baltic, while 38.16% belongs to Scandinavian Airlines System (SAS), 5.23% to Swedfund AB, 5.23% to the Danish Fund for Investments in Central and Eastern Europe and 0.35% to Transaero. Air Baltic has begun to increase its registered capital, which is expected to reach $43,448,000. In 1998, Air Baltic lost some 4m lats, or $6.7m.

Article ID: 605

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