AirBaltic Posts Record Results in 2023 with Historic Profit

Latvian airline airBaltic has achieved an exceptional 2023, posting a record profit of 34 million euros, a spectacular 88 million euro increase on the previous year. With revenues reaching 668 million euros, an increase of 34% on 2022, airBaltic surpassed its pre-health crisis performance.

Under the leadership of Martin Gauss, the company also achieved a record EBITDAR of 159 million euros, surpassing the 2022 result by 76 million. Passenger traffic grew by 36% to 4.5 million, and the number of flights operated rose to 65,500, 30% more than the previous year.

2023 also saw airBaltic launch 38 new routes, extending its network to 126 routes. With a fleet of 46 Airbus A220-300s at the end of the year, and plans to increase this number to 50 by 2024, airBaltic confirms its status as the world's largest operator of this aircraft. The company has also secured an agreement for a further 30 A220-300s, with options for a further 20.

Aiming for an IPO, airBaltic is committed to providing excellent connectivity between the Baltic States and the rest of the world, while constantly improving the passenger experience and contributing to the regional economy.

Source: Air Journal