airBaltic today published its financial results and sustainability report for the year 2022. The company posted operating profits of EUR 32 million, exceeding the previous year’s profits. Revenues exceeded €500 million, achieving 145% year-on-year growth.
“With more than €500 million in revenues and 3.3 million passengers, airBaltic is on track to return to persistent profitability.” Martin Gauss, President and CEO of airBaltic, stated.
EBITDAR (earnings before interest, taxes, depreciation, amortization, depreciation, amortization and restructuring or rental costs) showed results that far exceeded those of the previous year. During 2022 EBITDAR reached €129.7 million, against €0.3 million achieved in 2021.
“Looking ahead to 2023, we are full of strength, ideas and determination, and we are continuing the successful course we have taken that will help airBaltic achieve its IPO in 2024. Our main objectives remain the same: to ensure the best connectivity between the Baltic – one of Europe’s key business centers of the future – and the world, as well as to improve the passenger experience and make a fundamental contribution to the economy,” Gauss added.
The number of passengers carried in 2022 doubled compared to 2021, reaching a total of 3.3 million, up 105% from the previous period. Although the company is still not making a profit, the recovery of losses reached EUR 54.2 million, i.e. improved by EUR 81.5 million.
airBaltic operated 37.3 thousand flights in 2022, 59% more than in 2021.
