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%.
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
