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.”
|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%.
Many questions about it, so sharing @airBaltic Annual Report 2022. 150 Pages. All data in there. Highlights: EUR 500 Mio Revenue, EUR 32 Mio operating profit and EUR -54 Mio net loss. https://t.co/wS5Bt2Cv8s pic.twitter.com/qtCbso6FC4— Martin Gauss (@Gaussm) March 3, 2023