airBaltic published its 2023 Annual Report. The company recorded its highest profit of €34 million – an increase of €88 million over 2022. The airline group’s revenue increased to an all-time high of €668 million, a 34% increase compared to 2022.
Martin Gauss, President and CEO of airBaltic: “2023 was a very successful year of growth for airBaltic. With a record-breaking revenue of well above half a billion euros, the highest profit in the company’s history, impressive record EBITDAR of €159 million, and other positive business indicators, airBaltic has surpassed the pre-pandemic level.”
“airBaltic has started 2024 on a strong note, and currently, our focus is on continuing our path to a potential initial public offering (IPO). Our core objectives remain unchanged – to ensure the best connectivity between the Baltics and the world, as well as enhance the passenger experience and deliver a fundamental contribution to the economy,” Gauss added.
airBaltic concluded 2023 with the historically highest EBITDAR of €159 million, exceeding the 2022 figure by €76 million. In 2023, passengers soared by 36% to 4.5 million passengers. Additionally, the airline performed 65.5 thousand flights – 30% more than in 2022.
In 2023, airBaltic launched 38 new routes across five operating destinations – Riga, Tallinn, Vilnius, Tampere, and Gran Canaria – including routes to 14 destinations not served in 2022. The airline had an extensive network of 126 routes, a robust growth from 103 routes in 2022.
airBaltic ended 2023 with 46 A220-300 aircraft. Currently, it operates 47 aircraft of the type, with three more planned in 2024, thus concluding the 50 aircraft order. airBaltic is the largest A220-300 operator, and in November 2023, it announced a firm purchase agreement for 30 more A220-300 with purchase rights for an additional 20 aircraft.
