Latvian airline airBaltic has reported revenues of €204.1 million in 2021, up 41% compared to the previous year.
Martin Gauss, Chief Executive Officer, airBaltic said: “For much of 2021, we still saw changing travel restrictions and a continuation of the largest crisis in aviation history. airBaltic was able to fly more, though, and reduced its net loss almost twice compared to 2020. Notably, the company carried 1.63 million passengers, which is up 21% compared to the previous year, to and from the Baltics as it increased frequencies on key business routes. In 2021, despite a very challenging year for the aviation industry, we managed to show a positive EBITDAR of €0.3 million.
“We are now on a strong path to recovery and are actively recruiting additional staff to maintain the high level of connectivity we provide to the Baltic region. The forward bookings in the first quarter of 2022 are significantly above the previous year and confirm a very positive development out of the crisis,” he added.
airBaltic has introduced various digitalisation and operational efficiency projects, while also adding seven more Airbus A220-300 aircraft that further decrease the impact on the environment. airBaltic has set a target of reaching net zero by 2050 at the latest.
Last year the airline connected Riga, Tallinn and Vilnius on a total of 74 destinations, providing much-needed connectivity including essential mail and cargo shipments for the region. airBaltic maintained its status as the market leader and largest carrier in the Baltic states.