€7.1 Million net profit in Q3 of 2022 for airBaltic

€17.1 Million net profit in Q3 of 2022 for airBaltic

The Latvian national airline airBaltic has released its latest headline results, which, according to the unaudited consolidated numbers for the first nine months of 2022, airBaltic group has already achieved EUR 362.5 million in revenue, which is by 172% more than in 2021. At the same time, the pre-exceptional net income for the third quarter of 2022 has grown to EUR 17.1 million.

Martin Gauss, President and CEO of airBaltic: “The aviation industry is recovering from the effects of the pandemic, and that is reflected also in our financial results. With exceeding EUR 362.5 million revenue and 2.4 million passengers already in the first nine months of this year, airBaltic is on the way back to profitability.”

“The war in Ukraine with all its consequences has changed our market conditions significantly, facing supply chain issues, growing fuel prices, rescheduling the airline’s operations, and more. But we remain consistent and our core goal remains the same – airBaltic will continue expanding its market share, by further improving connectivity between the Baltics and the rest of the world,” Martin Gauss added.

During the first nine months of 2022, airBaltic has carried 2.4 million passengers or by 133% more than during the same period last year. The number of performed flights has increased by 88% - to 27 713 flights.

position	Jan-Sep 2022	Jan-Sep 2021	Change %
Revenue	EUR 362.5 million	EUR 133.3 million	1.72
Net loss**	EUR (35.6) million	EUR (72.1) million	-0.506
Passengers	2.4 million	1.0 million	1.33
Flights	27713	14719	0.88

** Supplemental commercial support included and adjusted for the period; the foreign currency exchange loss related to re-evaluation of USD denominated liabilities is excluded.