airBaltic annual profits picked up in 2021

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The revenues of the Latvian national airline airBaltic were EUR 204.1 million in 2021, which is 41% more compared to the previous year, the company said April 14.

The company ended 2021 with a loss of €135.7 million, nearly half of 2020's number.

The airline transported 1.63 million passengers to and from the Baltic States last year, 21% more than a year ago, said Martins Gauss, executive director of airBaltic. He attributed the increase in passenger numbers to the increase in the number of flights on major business routes.

airBaltic provided a total of 94 routes from Riga, Tallinn, and Vilnius last year, an increase of 24% compared to 2020. A total of 23,400 flights were carried out last year, which is 5% more than in 2020. The company employed 1600 people last year, up 30% over a year earlier.

The airline continued to expand its fleet last year, receiving seven new Airbus A220-300 planes. By increasing the size of its fleet, the company plans to reach a profit by 2024. It is also planned to launch the listing of airBaltic shares on the stock exchange (IPO) at the end of 2023 or early 2024.

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