airBaltic reported record revenue and passenger numbers in 2025, while significantly reducing its annual net loss despite operational challenges.
The Latvian carrier posted revenue of €779.3 million, a 4% increase year-on-year, and carried 5.2 million passengers on its own network and 8.7 million passengers in total. The airline operated 78,400 flights (+7%), including 30,100 ACMI flights (+15%), reflecting growth in aircraft leasing operations.
Despite the revenue growth, Adjusted EBITDAR declined to €143.9 million with a margin of 18.5%, down from 24.6% in 2024, as higher operating costs, engine maintenance constraints and limited aircraft availability weighed on profitability. However, the airline reduced its net loss to €44.3 million, an improvement of €73.8 million compared with 2024.
Operationally, the carrier expanded its training, maintenance and cargo infrastructure and increased its fleet to 51 Airbus A220-300 aircraft, reinforcing its position as the largest global operator of the A220-300.
According to CEO Erno Hildén, performance improved in the second half of 2025 as demand strengthened and pricing discipline increased. The airline expects stronger results in 2026, supported by improved fleet availability, new aircraft deliveries and the rollout of Starlink high-speed onboard connectivity.