Air Baltic achieves quarterly profit of EUR 17,1 million

In the first nine months of 2022, the Air Baltic Group generated revenues of EUR 362,5 million - an increase of 172 percent compared to 2021. At the same time, net profit in the third quarter of 2022 increased to EUR 17,1 million.

In the first nine months of the current year, Air Baltic transported a total of 2,4 million more passengers than in the same period last year. The number of flights operated rose by 88 percent to 27.713 flights.

“The airline industry is recovering from the impact of the pandemic and this is reflected in our financial results. With a turnover of more than 362,5 million euros and 2,4 million passengers in the first nine months of this year, Air Baltic is on the way back to profitability,” says airline boss Martin Gauss. “The war in Ukraine and all its consequences have significantly changed our market conditions: we face supply chain problems, rising fuel prices, flight operations restructuring and much more. But we remain consistent and our core objective remains the same – Air Baltic will continue to grow its market share by further improving connectivity between the Baltics and the rest of the world,” Gauss continued.