Latvian airline airBaltic reported record profits in its entire history. In 2023, the company made a profit of 34 million euros, which is 88 million euros more than the previous year.
►Read the Ministry of Finance page on Facebook: main financial news
Financial performance
In addition, airBaltic's revenue grew to a record high of 668 million euros, which is 34% more than in 2022.
“With record revenue exceeding half a billion euros, the highest profit in the company's history, an impressive record EBITDAR and other positive business indicators, airBaltic has surpassed pre-pandemic levels,” commented its President and CEO Martin Gauss on the company’s annual report.
airBaltic completed 2023 year with a historically high EBITDAR of €159 million, exceeding the 2022 figure by €76 million. The number of passengers transported by the company increased by 36% to 4.5 million people.
The number of flights over the year increased by 30% – to 65,500.
Help
Air Baltic Corporation AS is a joint stock company founded in 1995. The main shareholder of 96.14% of the shares is the Republic of Latvia, and Larsu Thuesen owns the remaining 3.86% through his exclusively owned company Aircraft Leasing 1 SIA.
The company offers flights to more than 70 destinations in Europe, the Middle East East, North Africa and the Caucasus region.
