Latvia: airBaltic reports record revenue, profit in 2023

Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will seek external financing to refinance a EUR 200mn bond and plans to attract almost EUR 100mn in additional financing, LETA reports. The airline carried 4.54mn passengers in 2023, which was up 36% from 3.3mn in 2022. The number of flights grew by 30% to 65,500. The airline opened direct flights on 38 new routes in 2023, flying to altogether 126 destinations.