Airport, Latvia, Transport

Earlier this year Magnetic MRO acquired three Boeing 737 aircraft from airBaltic.

Martin Gauss, CEO of airBaltic, said that since May 2020, airBaltic has been operating all of its flights with a single aircraft type – Airbus A220-300, thus minimizing the complexity and benefiting from the additional efficiency provided by the aircraft. "Yet Boeing 737 aircraft were a notable part of the airBaltic fleet for 17 years. They served as our breakthrough, helping to establish ourselves as a strong regional carrier,” Gauss said.

airBaltic introduced the first Boeing 737 aircraft back in 2003. Over the years, 20 different Boeing 737 aircraft in total have carried more than 22 mln passengers and have performed more than 280 thousand flights all across the Europe and beyond.

Boeing 737 offered airBaltic a significantly longer range, increased seat capacity and faster flight speed. These new features allowed the airline to expand the network and reach new destinations like Tel Aviv, Lisbon or Baku.

As reported, airBaltic turned over EUR 503.281 mln in 2019, a 23.1% increase against 2018, and sustained a EUR 7.729 mln loss in contrast to a profit made year before, the company's audited statement shows.

The Latvian state currently owns 96.14% in airBaltic, and a 3.86% stake in the airline belongs to Aircraft Leasing 1, a company owned by Danish businessman Lars Thuesen.