The Latvian national airline airBaltic, in order not to cancel flights, began to take aircraft for short-term lease from other owners, the company’s board chairman Martin Gauss told BNS.
He explained that in the midst of the pandemic, and even before supply chain problems arose, the company, based on forecasts, decided to lease part of its fleet, along with crews, on a long-term basis. Aircraft surrendered, for example, Lufthansa. Gauss called such a long-term lease very profitable.
„And then there were problems with the supply chain of some parts needed to service the ( remaining – IF ) airBaltic aircraft, which caused delays in service,” he continued.
As a result, the company is currently unavailable to the aircraft that are under maintenance, as it is delayed due to problems with the supply chain. On the other hand, the airline cannot early return aircraft leased to other carriers.
Along with many European airlines, airBaltic is faced with a choice: cancel flights or find planes and take them on a short-term lease.
„This is what airBaltic is doing right now. We don’t want to cancel our flights,” Gauss stressed.
airBaltic’s turnover last year amounted to 204.1 million euros, up 41% year-on-year, while the company’s net loss decreased by 49% to 135.7 million euros.