airBaltic loses EUR 59.3 million in the first six months of 2022

airBaltic issued this financial statement for the first half of 2022:

Due to increased travel demand, the unaudited consolidated financial results of airBaltic group for the first six months of 2022 show a significantly increased revenue of EUR 191.5 million – 270% more than the same period last year.

Martin Gauss, Chief Executive Officer of airBaltic: “In comparison to the first six months of 2021, this year, we have seen a tremendous growth in both our passenger numbers and performed flights. We have recorded a strong summer, and our core mission for the future remains to be the main connectivity provider to and from our home cities of Riga, Tallinn, Vilnius and Tampere.”

“The net result in the first six months has been significantly impacted by a number of challenges, mainly the ongoing war in Ukraine, uncertainty around the Covid-19 pandemic, global supply chain issues, increasing fuel prices and more. These global challenges have affected airBaltic, respectively resulting in the group’s consolidated net loss of EUR 59.3 million in the first half of 2022,” Martin Gauss added.

During the first six months of 2022, airBaltic carried 1.3 million passengers or 299% more than during the same period last year. The number of performed flights increased 177% to 16 925 flights.

H1 2022 H1 2021 Change %
Revenue EUR 191.5 million EUR 51.7 million 270%
Net loss EUR (59.3) million EUR (61.5) million -4%
Passengers 1.3 million 0.3 million 299%
Flights 16 925 6 110 177%

airBaltic aircraft photo gallery: