airBaltic’s first quarter revenue increased by 26 percent. and reached 132 million euros

As the Latvian airline company “airBaltic” prepares to announce the 2024 financial results for the first quarter, preliminary data already show good performance. airBaltic continues to demonstrate operational excellence and solid business performance on the back of record-breaking 2023 totals. results. Based on preliminary indicators, total revenue for the first quarter is expected to be around $132 million. euros, ie 26 percent. more than in the corresponding year 2023 period, and will be the largest first-quarter revenue in the airline’s history. Number of passengers compared to 2023 in the first quarter, increased by 20 percent. – this is another historical record for airBaltic in the first quarter.

“Current indicators show that the entire first year of 2024 airBaltic continued to demonstrate good financial and operational results in the quarter. Our first results show that the quarter was good as we added more flights, improved operations and focused on better customer service. These changes helped us attract more passengers and improve our results,” says Martin Gauss, President and CEO of airBaltic.

“Looking ahead to 2024, we continue to move successfully towards a potential IPO as early as the second half of this year.” Our main goals do not change – to ensure the best communication between the Baltic countries, one of the most important European business centers of the future, as well as to improve the passenger experience and substantially contribute to the economy”, highlights M. Gauss.

During the first three years of 2024 airBaltic flew 926 thousand of passengers, ie 20 percent. more than during the same period in 2023. period. The total number of flights performed in the first quarter increased by 11 percent. up to 9.6 thousand

AirBaltic’s overall operating capacity has also improved significantly – this is shown by 30 percent. increased Available Seat Kilometers (ASK) to 1.9 billion from 1.5 billion in 2023 I quarter (ASK is a metric used in aviation to quantify an airline’s capacity. It is calculated by multiplying the number of seats by the flight distance in kilometers. This metric helps airlines measure efficiency, plan capacity, and compare the scale of operations and revenue potential on different routes.) The airline’s load factor improved from 71 percent. to 75.9 percent, which is also the best ever recorded result for the first quarter. Total number of flights including ACMI in 2024 In the first quarter, it increased to 12.3 thousand. flights compared to 11.4 thousand in the same quarter last year (increased by 8%).

airBaltic plans to announce all financial results of the first three months in 2024. May 22 during the investor call, and later the information will be published on the company’s website.

* Can change.

airBaltic flies to more than 130 destinations in Europe, the Middle East, North Africa and the Caucasus region from Vilnius, Riga, Tallinn, Tampere and, seasonally, Gran Canaria. The entire airBaltic flight schedule and tickets can be found on the company’s website at www.airbaltic.com.

About airBaltic:

airBaltic (Air Baltic Corporation AS) was founded in 1995. a joint stock company was established. Its main shareholder is the Latvian state, which owns 97.97 percent. shares, and for other shareholders – 2.03 percent. airBaltic offers flights to more than 70 cities in Europe, the Middle East, North Africa and the Caucasus region. Over the past 28 years, airBaltic has become a strong and internationally recognized airline with more than 2,500 employees. AirBaltic’s fleet consists of 47 Airbus A220-300 aircraft, making this fleet one of the youngest in Europe. The airline has received international awards for excellence, innovative services and significant achievements. For two years in a row, Skytrax has awarded airBaltic as the best airline in its region. In addition, in 2022 The International Air Transport Association (IATA) awarded the diversity and inclusion team of airBaltic. in 2023 the airline received the APEX Passenger Choice award for the best cabin service in Europe.