The Latvian airline airBaltic confirmed its revenue for 2021 reached €204.1 million, up 41% compared to the previous year. With a net loss this year of €135.7 million, greatly reduced from 2020’s amount of €264.6 million.
Speaking at a live stream of the airline's annual results, Martin Gauss, Chief Executive Officer stated: “For much of 2021, we still saw changing travel restrictions and a continuation of the largest crisis in aviation history. airBaltic was able to fly more, though, and reduced its net loss almost twice compared to 2020. Notably, the company carried 1.63 million passengers, which is up 21% compared to the previous year, to and from the Baltics as it increased frequencies on key business routes. In 2021, despite a very challenging year for the aviation industry, we managed to show a positive EBITDAR of € 300,000.
Gauss also said the airline was looking forward to the future and was actively recruiting additional staff to maintain the high level of service it provides to the Baltic region. Last year the airline connected Riga, Tallinn and Vilnius to a total of 74 destinations, supporting the three nations with connectivity plus mail and cargo shipments.
Whilst the airline is continually adding more Airbus A220-300 aircraft to its fleet it will continue to engage in leasing out these planes to various airlines throughout Europe. airBaltic currently has wet-leased around 11 aircraft to Eurowings and SAS and whilst the carrier is building up its root network and adding additional flights, it still sees leasing out a core part of its business for the next three or four years.
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