airBaltic Announces Historic Results

Daniel Fowkes
12 May 2023
· Airlines 
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airBaltic has announced its financials for the first quarter of 2023 and has recorded historic results too.

The company reported US $114 million in revenues, which is the highest the company has seen in its history and represents a 75% jump over 2022’s first quarter performance.

For airBaltic, this strengthens their claims that they’re recovering from the effects of the global pandemic. It was especially highlighted through executives noting that performance in the first quarter exceeded their expectations.

The company has set its sights on continued growth and increased revenues as they shoot for 700 million euros by December 31st, 2023, and 4.4 million passengers carried too.

The jump in passengers carried comes following airBaltic’s continued route expansion that’ll unveil over the coming months. Summer and winter routes will be presented with 11 new routes for the winter schedule beginning in October.

While the airline will need to navigate the ongoing global engine crisis and potential negative implications, it remains optimistic that the outlook, at least for demand, will continue to be strong as people want to travel.

airBaltic said they carried 770,000 passengers across the first quarter, which would see them surpass 3 million passengers if replicated for the remaining quarters. However, with the continued expansion and busiest times of the year still ahead of the company, this number should only rise.

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