airBaltic plans to conclude this year with EUR 400-450 million in turnover

RIGA - Latvian national airline airBaltic plans to conclude this year with EUR 400-450 million in turnover, the airline informed.

The amount of revenue will depend on the results of the fourth quarter of 2022, which cannot be accurately predicted at the moment, as there are uncertainties related to a possible recession in the Eurozone, the recurrence of Covid-19 restrictions and the possible escalation of the war in Ukraine.

The management report states that with a turnover of 400-450 million euros, airBaltic would reach 80-90 percent of 2019 revenues.

As reported, the turnover of airBaltic in the first half of this year was EUR 191.482 million, which is 3.7 times more than in the corresponding period last year, according to the information released by the airline.

Among them, revenues from passenger transportation amounted to EUR 154.075 million euros, while additional revenues amounted to EUR 14.761 million euros.

In the six months of 2022, the airline transported a total of 1.313 million passengers, which is four times more than a year earlier in this period, while the number of flights performed increased 2.8 times - to 16,925.

LETA also reported, airBaltic turned over EUR 204.1 million last year, up 41 percent from a year before, and the company's loss reduced by 49 percent to EUR 135.7 million.

The Latvian state currently owns 96.14 percent in airBaltic, and a 3.86 percent stake in the airline belongs to Aircraft Leasing 1, a company owned by Danish businessman Lars Thuesen.