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The 2023 financial year was particularly successful for the Latvian airline Air Baltic, as it achieved the highest profit to date in the company's almost 30-year history. The company reports a surplus of 34 million euros.
This meant an increase of 88 million euros compared to the previous period. Sales are also at a record high and are reported by the carrier at 668 million euros. Compared to 2022, there was an increase of 34 percent. Ebitdar is 159 million euros, up 76 million euros than a year ago.
Latvia's state airline was also able to increase significantly in terms of passenger numbers. There were 4,5 million travelers on board, 36 percent more than in the previous period. 65,5 thousand flights were carried out, 30 percent more than in 2022. “2023 was a very successful year of growth for Air Baltic. With a record-breaking turnover of well over half a billion euros, the highest profit in the company's history, an impressive record Ebitdar of 159 million euros and other positive business indicators, Air Baltic has exceeded pre-pandemic levels. Air Baltic has made a good start to 2024 and our current focus is on continuing our path to a potential IPO. Our main goals remain unchanged: to ensure the best connectivity between the Baltics and the world, to improve comfort for passengers and to make a significant contribution to the economy,” said company boss Martin Gauss.
The Latvian carrier is also affected by the problems surrounding the P&W engines used in the pure A220 fleet. It is believed that this is under control. In addition to your own flight operations, you also fly under wet lease for other carriers. Last year, for example, we traveled for Eurowings and Swiss. The cooperation has now been extended to Lufthansa.
