airBaltic: focused on Baltic air connectivity. IPO may slip into 2025

In spite of slipping to a net loss in 1H2024 from positive results last year, airBaltic remains positive. The loss arose mainly from expected one-off costs, while operational and traffic developments were satisfactory.

Moreover, the state-owned Latvian flag carrier continues to plan for the future. In mid Aug-2024 it exercised options to purchase 10 more Airbus A220-300 aircraft. It anticipates more than doubling its fleet to almost 100 A220s by 2030.

airBaltic has been aiming for a 2H2024 stock market flotation. However, its 1H2024 loss and declining prices for many European airline shares since the start of this year could delay this aim.

Almost 13 years into his role, airBaltic CEO Martin Gauss understands the value of patience. He has said that market timing and finances need to be right for an IPO.

Meanwhile, airBaltic remains focused on fulfilling its aim to provide the Baltic States with the best connectivity.