Latvia's airBaltic reports 27mn euro loss
"We are very confident, as we continue to perform ahead of our plan," CEO Martin Gauss told reporters at the company's headquarters.
"We are ahead of our schedule to reach profitability in 2014."
The figures in the annual report were better than the company's original estimate of a 47-million-euro loss last year.
In 2011, the carrier registered a loss of 109 million euros amid a bitter ownership dispute.
Latvia took control of 99.8 percent of shares and installed Gauss, formerly of the now-defunct Hungarian carrier Malev, to turn the company around.
The airline operates a fleet of 28 planes from its Riga hub and last year flew just over 3 million passengers to 60 destinations.
Last July it announced plans to buy up to 20 aircraft from Canadian manufacturer Bombardier in a deal potentially worth $1.5 billion.
More photos from News
Other Top News
- Barclays says first-half net profit soars to £1.13bn
- Venus advances, Serena set for WTA return at Stanford
- Europe launches last resupply ship to space station
- Australia focused on MH17 crash site, not Russia sanctions
- Deadly shelling hits UN school as Hamas mulls truce
- Deadly Israeli shelling hits UN school as Hamas mulls truce