Latvian national airBaltic airline will expand cooperation with German Lufthansa Group in the next three years by leasing its aircraft to this group, as confirmed by airBaltic representatives.
The agreement between the two airlines will come into force at the beginning of summer next year. The contract provides for cooperation in a three-year period of time. It is during this period of time, up to 21 airBaltic’s A220-300 aircraft will be performing flights on behalf of Lufthansa Group.
Martin Gauss, President and CEO of airBaltic, points out that in recent years, aircraft leasing has become an essential business and growth strategy for the company, complementing airBaltic’s scheduled flights from existing bases and gaining international recognition.
“This cooperation is proof that the service provided by airBaltic is highly appreciated by an internationally recognized and recognized brand such as the Lufthansa Group, and we look forward to successful cooperation in the future,” added Gauss.
It has already been reported that the Lufthansa Group includes, in addition to Lufthansa, the Austrian national airline Austrian Airlines, the Swiss national airline Swiss, the Belgian national airline Brussels Airlines and the German low-cost airline Eurowings.
airBaltic carried a total of 4.536 million passengers last year, an increase of 35.7% compared to 2022, and 44 100 flights, an increase of 18.3% compared to the year before.
The audited turnover of airBaltic last year was EUR 664.289 million, which is an increase of 33.2% compared to 2022, and the company made a profit of EUR 33.852 million as opposed to losses a year earlier.
The Latvian state owns 97.97% of airBaltic shares, while the financial investor Aircraft Leasing 1, which is owned by Danish entrepreneur Lars Thuesen, owns – 2.03%.