7-Mar-2012 9:56 AM

airBaltic announces 'business reshaping' plan

airBaltic announced (06-Mar-2012) a turnaround plan, 'ReShape', aimed at returning the carrier to profitability in 2014 and allowing for sustainable development from its Riga base. The plan includes fleet modernisation to only two aircraft types: Bombardier Q400 for regional operations and either A319 or Boeing 737NG aircraft for longer services. Other improvements in "cost optimisation, operational efficiency, revenue enhancement and network" totalling LVL330 million (EUR472.3 million) are expected to be achieved over the next five years. [more - original PR]