From our base in Riga, we started flights to nine new destinations, the last ones in
December 2004 to Geneva and St. Petersburg. The flight to St. Petersburg will be operated in co-operation with Pulkovo airlines. In 2004, our passenger numbers have increased by 75% from 330 000 in 2003 to almost 590 000. The reason for this strong growth despite more competitors is market growth as such, but also the introduction of one-way fares at far lower prices.

Our co-operation with Scandinavian airlines has been successfully strengthened. Since October 2004 most airBaltic flights are operated as code-share flights with Scandinavian airlines.

Another important event was the introduction of our new corporate identity, which demonstrates our membership to the SAS-group, as well as a commitment to a value- for-money product. You will see more elements of the new design being introduced in the near future and hope to have the roll-out completed by the end of May, with all aircraft being repainted. Our new web-page with enhanced on-line-booking possibilities has already been launched.

After this period of rapid change, we will concentrate on consolidation and optimization of what we have achieved. Nevertheless, we still do have some positive surprises for you. Istanbul and Barcelona (Gerona) will be started from
Riga in March, providing direct flights to two fascinating cities. With the beginning
of the summer season, we will also increase our frequencies to Dublin, both from Vilnius and Riga, and we will introduce more flights within the Baltic States.

Also 2005 will be exciting, full of change and challenges. For us in airBaltic, commercial excellence means, that you and your needs are the driving force behind all our work. Our cost-efficient operations allows us to offer highly competitive fares, while still offering a full range of additional services for you to choose. Our professional and highly motivated staff will work hard to make your journey reliable and enjoyable.