During the first nine months of 2024, airBaltic carried 3.8 million passengers, an 11% increase compared to the same period in 2023, while revenues for the same period reached EUR 575.3 million (+13% year-on-year).
In Q3, the airBaltic Group reported a net profit of EUR 40.3 million on revenues of EUR 236 million, (+8% y-o-y).
However, previous performance projections for the year as a whole were scaled back.
"Due to difficult macroeconomic conditions in the Baltic States in the year to date, full-year guidance has been adjusted. Revenue for the full year of 2024 is now expected to be in the range of EUR 740 million to EUR 750 million," airBaltic said. Previously the projection for 2024 was for revenues in the range EUR 750 million to EUR 775 million.
Martin Gauss, President and CEO of airBaltic was predictably upbeat, sayin:
“Our record-breaking results for Q3 and the first nine months of 2024 highlight the effectiveness of airBaltic’s strategy and our focus on operational efficiency, network expansion, and customer experience... We continue to position airBaltic as the premier connectivity provider in the Baltics, supporting growth in passenger numbers and revenue.”
Gauss added: “Despite difficult macroeconomic conditions in the Baltics and the challenges of rising engine maintenance costs, our Q3 profit and record load factors highlight strong passenger demand as well as our agility in a changing market. Moving forward, we are focused on our vision – continuing airBaltic’s growth story, enhancing passenger experience, and boosting our positive impact on the regional economy.”
