airBaltic (Latvia) has announced its financial results for 2024, reporting a 12% year-on-year increase in revenue, reaching $815 million. Despite the revenue growth, the airline recorded a net loss of $128.5 million, highlighting ongoing operational and financial pressures.
airBaltic has reported strong passenger growth for February 2025, carrying 289,500 passengers, a 4% increasecompared to the same period last year. This marks the highest February passenger count in the airline’s history, reflecting its continued expansion and operational efficiency.
airBaltic (Latvia) has announced the successful completion of the Baltic Cargo Hub, marking a significant milestone in the region’s air freight industry. The new facility is now the largest dedicated air cargo handling hub in the Baltics, designed to enhance cargo capacity, efficiency, and operational flexibility for airBaltic and its logistics partners.
airBaltic (Latvia) will be able to evaluate the refinancing of its $397 million bond debt starting in May 2026, as the airline seeks to optimize its financial structure and reduce borrowing costs.
airBaltic (Latvia) is considering pushing back its planned IPO to early 2026, as CEO Martin Gauss acknowledged that ongoing engine delivery challenges are restricting the airline’s growth trajectory.
airBaltic (Latvia) has announced a temporary 40% wage reduction for its management board, a voluntary decision aimed at supporting the airline’s financial stability ahead of its planned initial public offering (IPO). The measure will remain in effect until the successful completion of the share listing process.
airBaltic has reached a significant fleet milestone with the arrival of its 50th Airbus A220-300, bearing serial number 55329. This latest addition strengthens the airline’s position as a leading operator of the A220-300 and aligns with its strategy of operating a single-type fleet for greater efficiency.
On February 11, 2025, airBaltic held a shareholders’ meeting where Andrejs Martinovs and Lars Mydland were elected to the Supervisory Board. Martinovs will serve as Chairman, while Mydland will take on the role of Vice Chairman.
Lufthansa Group has signed an agreement to acquire a 10% convertible share in airBaltic for a subscription price of €14 million. This strategic move grants Lufthansa a seat on airBaltic’s Board and positions the group for future equity participation in the Latvian carrier.
airBaltic (Latvia) has entered a strategic partnership with SUA Lineas Aereas (Uruguay), expanding its leasing operations into South America. As part of the agreement, airBaltic plans to wet lease up to five Airbus A220-300 aircraft to SUA starting October 2025, marking an important step in its ACMI (Aircraft, Crew, Maintenance, and Insurance) leasing strategy.
