Latvia-based airBaltic Records Highest Half-Year Earnings

Latvia-based airBaltic Records Highest Half-Year Earnings
Photo Credit: Jacob Jones/AviationSource
James Field - Editor in Chief 2 Min Read
2 Min Read

Earlier this week, Latvia-based carrier airBaltic announced its highest half-year earnings as the airline continues to grow in volume and market presence.

During the first six months of this year, the carrier handled close to 2 million passengers, which is 52% more than the same period last year.

Below is a summary of the carrier’s earnings during 1H23:

PositionH1 2023*H1 2022Change
Total revenueEUR 285 millionEUR 191 million0.49
Flights2.0 million1.3 million0.52
Passengers20.3 thousand16.9 thousand0.2

airBaltic CEO: Things Don’t Just Stop There For The Latvia-based Carrier…


Latvia-based airBaltic Records Highest Half-Year Earnings
Photo Credit: Arash Abed/AviationSource

Commenting on the results was Martin Gauss, the President & CEO of Latvia-based airBaltic, who emphasized that there is more to focus on:

“The first half of 2023 has surpassed our expectations, driving airBaltic towards strong commercial performance.”

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“We have been recording a strong summer season so far, with each passing month showcasing improvements with an upward trend.”

“In comparison to the first six months of 2022, we see significant growth in preliminary revenues, as well as passenger numbers and performed flights.”

Looking ahead, our target and ambition remains to achieve EUR 700 million in revenue and  a substantial increase in passenger numbers – 4.4 million by the end of 2023.”

“Furthermore, our primary focus for the future remains to be the leading connectivity provider to and from the home cities of Riga, Tallinn, Vilnius, and Tampere.”

“Here airBaltic has strengthened its positions and is committed to enhancing  passenger experience and making a significant contribution to the economy,”

What remains clear is that airBaltic is having a very successful 2023 so far, with all eyes now on them to see how the rest of the year goes for them and connecting Latvia with the rest of the world.

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