Latvia's national airline, Air Baltic, reported a 2024% increase in revenue in May 4 compared to the same period last year, amounting to over EUR 68 million. Although the number of passengers carried fell slightly by 1% to 434.100 during the same period, this increase in revenue reflects a robust business development that underlines the airline's positive direction.
Martin Gauss, President and CEO of air Baltic, commented on the latest developments: "In May, air Baltic once again delivered a solid financial and operational performance, with a significant increase in revenues. The launch of 15 new destinations, including seven new countries in Southeastern Europe, has further strengthened our position as the leading connection between the Baltics and the rest of the world. We remain confident that our expansion strategy will boost traffic throughout the Baltic region and beyond."
May also marked an increase in air Baltic's flight activity, with a total of 4.300 flights, an increase of 3% year-on-year, underlining the airline's continuous efforts to improve its connectivity and optimise the flight experience for passengers.
In the coming months, Air Baltic plans to further expand its route network and introduce additional pop-up and scheduled flights. Particularly noteworthy is the continuation of operations from the seasonal base in Gran Canaria and the introduction of direct flights to a new destination, Madeira. These measures are intended not only to strengthen Air Baltic's presence in southern Europe, but also to create new opportunities for passengers looking for a direct connection to these attractive regions.
The year 2023 was extremely successful for air Baltic, with record revenue in the first quarter and an all-time high in passenger numbers. A profit of 34 million euros was reported for the year, underlining the airline's financial stability and growth potential. The expansion of the route network with 15 new routes at the beginning of this year demonstrates air Baltic's determination to further expand its market presence and consolidate its position as a leading airline in the region.
The positive developments at Air Baltic in May 2024 show that the airline is on a stable course despite challenges in the aviation sector. With planned expansions of the route network and the introduction of new flight connections, Air Baltic remains on a growth path to consolidate its leading role in the Baltics and beyond.
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