In Q1 2025, Latvian airline airBaltic set new first-quarter records with 1.3 million passengers and 13,600 flights, reflecting strong operational performance despite seasonal and market pressures. The airline expanded its route network by 10.5% year-on-year to 95 routes and maintained a stable load factor of 75.9%.
Revenue rose slightly to €132.7 million, but profitability was impacted by higher financing, emissions, and operating costs. Adjusted EBITDA fell to €3.1 million (from €12.6M in Q1 2024), and the net loss narrowed to €29.3 million, down from €40.6 million the year before.
Interim CEO Pauls Cal?tis highlighted continued growth and passenger trust, affirming the airline’s strategic focus on operational strength, sustainability, and preparation for a potential IPO. With 50 aircraft in operation, airBaltic aims to expand its fleet to 100 and solidify Riga’s role as a key regional hub.