airBaltic resumes growth, aims for 2024 IPO
airBaltic's revenue increased by 74% year-on-year for the first quarter of 2023, with passenger numbers up by 77%, to 769,600.
The airline did not report revenue and passenger numbers in the first quarter of 2019, so it is not possible to gauge its progress back to pre-pandemic levels for this period.
However, airBaltic CEO Martin Gauss has said that the airline is planning to generate EUR700 million in revenue and to carry 4.4 million passengers in 2023.
These targets compare with 2019 results of EUR509 million in revenue and 5.0 million passengers. In other words, airBaltic expects to be 38% above its 2019 revenue with 12% fewer passengers. It is not the only airline in Europe to be experiencing the healthy yields resulting from strong post-pandemic demand.
airBaltic is growing once more, and Mr Gauss is confident that the Riga-based airline is back on the path to profitability and a 2024 IPO.
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