Latvian airline airBaltic posted a €1 million ($1.38 million) net profit for 2013, reversed from a net loss of €27 million in 2012. The carrier said it achieved profitability one year ahead of its initial schedule. Revenue held steady at €325 million despite a 5% reduction in capacity year-over-year. CEO Martin Gauss said, “The year 2013 will go down in airBaltic’s history as the one in which we proved that a turnaround is also possible in difficult years. We ...

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