As the Latvian airline airBaltic prepares to publish its financial results for the first quarter of 2024, preliminary data already show positive revenue indicators. After record high results last year, airBaltic continues to demonstrate operational quality and convincing business indicators. Preliminary estimates show that the total revenue in the first quarter reached approximately 132 million euros, which is 26% more compared to the same period last year and a new record high result for the first three months of the year. In addition, the number of transported passengers increased by 20% compared to the first quarter of 2023, thus also recording the highest result ever for the first quarter.
airBaltic President and CEO Martins Gauss: “Current indicators show that airBaltic has continued to demonstrate strong financial and operational results in the first quarter of 2024. Our preliminary results show a good quarter as we increased our flights, improved our operations and focused on better customer service. These changes have helped us attract more passengers and improve our results.”
As every year, this time too we will gather on May 1 to wake up the fountain, rejoice together and welcome the warm spring.
Tukuma TIC
“Looking ahead to the rest of 2024, we continue to successfully move towards a potential IPO no earlier than the second half of the year. Our basic goals remain unchanged – to ensure the best connectivity with the Baltics, which will be one of the most important European business centers in the future, as well as significantly improve the quality of passenger service and make a significant contribution to the economy,” added Gauss.
In the first three months of 2024, airBaltic carried 926 thousand passengers, which is 20% more than in the corresponding period of 2023. The total number of flights in the first quarter increased by 11%, i.e. to 9.6 thousand.
Significant improvements were also observed in airBaltic’s total operating capacity, as evidenced by a 30% increase in available seat kilometers (ASK), reaching 1.9 billion compared to 1.5 billion in the first quarter of 2023. The airline’s load factor increased from 71% to 75.9%, a new all-time high for the first quarter. The total number of flights operated, including ACMI, increased to 12.3 thousand in the first quarter of 2024, compared to 11.4 thousand in the corresponding quarter last year, an increase of 8%.
Please note that the final financial results for the first quarter are scheduled to be presented on May 22, 2024 during the investor call. The information will then be available on the company’s website.
airBaltic provides flights on more than 130 routes from Riga, Tallinn, Vilnius, Tampere and seasonally from Gran Canaria, offering convenient connections in the airline’s route network in Europe, the Middle East, North Africa and the Caucasus region. The complete list of airBaltic flights and tickets are available on the company’s website www.airbaltic.com.
Tags: airBaltic revenues increased quarter reaching million euros
