Airlines

airBaltic’s revenue exceeds EUR 500 Million in nine months

The Latvian airline airBaltic is set to release its 2023 Q3 financial results on November 8.

Following the record-breaking half-year results and based on preliminary figures, airBaltic maintains strong and positive business indicators, with a total revenue of EUR 502 million, representing a 39% year-over-year increase.

Furthermore, the preliminary results for Q3 of 2023 also highlight a significant achievement. In Q3, airBaltic generated EUR 211 million in revenue, representing a 23% increase compared to the corresponding period last year.

Martin Gauss, President and CEO of airBaltic: “Throughout Q3 and the first nine months of 2023, airBaltic continued to show strong financial and operational performance.

“After a record-breaking summer with nearly half a million passengers per month, we have seen a steady rise in overall demand, as evidenced by our revenue exceeding half a billion euros.”

“The summer season is typically the busiest time of year for airlines, and airBaltic benefited from a strong summer season in 2023.

“This was due to a number of factors, including increased demand for leisure and business travel and the company’s expanded network. airBaltic maintains its position as the leading airline in the Baltics, further developing essential connectivity from its home cities of Riga, Tallinn, Vilnius, and Tampere.

“As the main connectivity provider to and from the region, we are committed to providing our home markets with the best possible air travel services.

“We continually enhance the overall passenger experience and make a significant contribution to the region’s economy”.

During the first nine months of 2023, airBaltic carried 3.4 million passengers, representing a 41% year-over-year increase.

The number of performed flights also increased by 19% to 33 thousand.

Please note that the full financial results of Q3 and the first nine months will be presented on November 8, 2023, during an investor call and afterwards the information will be available on the company’s website.

9 months ended 2023*9 months ended 2022Change %
Total revenueEUR 502 millionEUR 363 million39%
Passengers3.4 million2.5 million41%
Flights33.0 thousand27.7 thousand19%

 

Q3 2023*Q3 2022Change %
Total revenueEUR 211 millionEUR 171 million23%
Passengers1.5 million1.1 million28%
Flights12.7 thousand10.8 thousand18%
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