airBaltic 2022 revenue double that of 2021

The revenue of the Latvian national airline airBaltic last year was EUR 500.17 million, which is almost two and a half times the turnover of the airline in 2021, when it was EUR 204.1 million, according to consolidated financial results published by the company on Friday, March 3.

Even so, last year, the airline posted a substantial overall loss of EUR 54.2 million, though it was significantly smaller than the EUR 135.7 million loss of the Covid-wrecked year of 2021 in the aviation industry.

Earnings before interest, taxes, depreciation, and amortization increased from €0.3 million in 2021 to €129.7 million in 2022, an increase of €129.4 million, the company said.

The number of passengers increased to 3.3 million, twice as many as in 2021.

airBaltic carried out 37.3 thousand flights in 2022, 59% more than in 2021.

President and CEO of airBaltic Martin Gauss commented: “With more than half a billion euros in revenue and 3.3 million passengers, airBaltic is on the way back to persistent profitability.”

Measure 2022 2021 Change
Revenue EUR 500.17 million EUR 204.1 million 1.45
EBITDAR EUR 129.7 million EUR 0.3 million EUR 129.4 million
Operating profit / (loss) EUR 32 million EUR (56.0) million EUR 88.0 million
Net result EUR (54.2) million EUR (135.7) million EUR 81.5 million
Passengers 3.34 million 1.63 million 1.05
Flights 37.3 thousand 23.4 thousand 0.59

airBaltic was established in 1995. Its primary shareholder is the Latvian state, which holds 97.97% of the stock, while the rest of the shareholders hold 2.03%.

 

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