Latvia’s national carrier airBaltic saw its net profit for 2016 drop sharply to €1.2 million ($1.3 million) in 2016 from €19.5 million in 2015 as the carrier encountered falling yields. The drop in profits came despite the company maintaining its revenue at €286 million compared to 2015’s figure of €285 million and increased passengers carried to 2.9 million, up 300,000 on the previous year. The company pointed to an improvement in its EBIT figure, up to ...

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