AirBaltic 2012 Loss Beats Plan on Reduced Fleet Size, Christmas
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AirBaltic AS, Latvia’s state-owned airline, narrowed losses more than forecast last year after cutting costs and a better-than-expected Christmas season, said Chief Executive Officer Martin Gauss.
AirBaltic yesterday said its net loss had narrowed to 19 million lati ($35.5 million) last year from 85 million lati in 2011 as it cut routes and revenue remained little changed. That compared with a company forecast for a 38 million lati loss.