In 2023, the Latvian carrier airBaltic announced its yearly financial outcomes, revealing an unprecedented net profit of 34 million euros. This figure marks a remarkable 88 million euro improvement over the prior year. Additionally, the airline’s income reached a new peak at 668 million euros, reflecting a 34% growth compared to the year 2022.
Martin Gauss, President and CEO of airBaltic: “2023 was a very successful year of growth for airBaltic. With a record-breaking revenue of well above half a billion euros, the highest profit in the company’s history, impressive record EBITDAR of EUR 159 million, and other positive business indicators, airBaltic has surpassed the pre-pandemic level.”
“airBaltic has started 2024 on a strong note, and currently, our focus is on continuing our path to a potential initial public offering (IPO). Our core objectives remain unchanged – to ensure the best connectivity between the Baltics and the world, as well as enhance the passenger experience and deliver a fundamental contribution to the economy,” Gauss added.
airBaltic celebrated a record-setting EBITDAR of 159 million euros in 2023, showing a 76 million euro increase from the previous year. The airline also saw a 36% rise in passenger numbers, reaching 4.5 million, and executed over 65,500 flights, marking a 30% increase from 2022.
Position20232022ChangeRevenueEUR 668 millionEUR 500 million34%EBITDAREUR 159 millionEUR 83 millionEUR 76 millionProfit / (loss)EUR 34 millionEUR (54) millionEUR 88 millionPassengers4.5 million3.3 million36%Grand total flights*65.5 thousand50.4 thousand30%
The airline expanded its reach significantly in 2023, initiating 38 new flight routes from its bases in Riga, Tallinn, Vilnius, Tampere, and Gran Canaria, including 14 destinations not previously covered in 2022. This expansion brought its total network to 126 routes, up from 103 routes the previous year.
Ending the year with a fleet of 46 Airbus A220-300 aircraft, airBaltic plans to increase its fleet to 50 of these aircraft in 2024, following its original order. The airline also secured a deal for an additional 30 A220-300 planes, with options for 20 more, reinforcing its position as the leading operator of this aircraft model globally.
With operations extending across more than 100 routes from its five bases, airBaltic offers a vast network of destinations across Europe, the Middle East, North Africa, and the Caucasus, ensuring extensive connectivity for its passengers.
The post airBaltic Sets Record with Historic Profit of EUR 34 Million in 2023 appeared first on Travel And Tour World.In 2023, the Latvian carrier airBaltic announced its yearly financial outcomes, revealing an unprecedented net profit of 34 million euros.
The post airBaltic Sets Record with Historic Profit of EUR 34 Million in 2023 appeared first on Travel And Tour World.