airBaltic Achieves Record Revenue of €779 Million in 2025 but Reports €44.3 Million Loss
Latvian carrier airBaltic has reported its strongest financial and operational results to date in terms of turnover, reaching €779.3 million in revenue during 2025. Despite operational challenges stemming from global engine availability issues, the company managed to reduce its net losses by €73.8 million compared to the previous fiscal year, solidifying its position as the world’s largest operator of the Airbus A220-300.
Financial Performance: Toward Stability and Growth
The year 2025 marked a milestone for airBaltic, recording a 4% increase in revenue. Although the airline closed the fiscal year with a net loss of €44.3 million, this figure represents a substantial improvement over the 2024 results.
Key Profitability Indicators
- Adjusted EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent): Stood at €143.9 million, with a margin of 18.5%.
- Improvement Factors: Results were driven by stronger pricing discipline in the second half of the year and foreign exchange gains related to the revaluation of US Dollar-denominated liabilities.
- Cost Pressures: Financial performance faced headwinds due to rising charges for air navigation, personnel, carbon emissions, and airport operational costs.
Operations and Fleet: Leadership in the A220 Segment
The airline transported a total of 5.2 million passengers across its own network (+1%), while the total passenger count reached 8.7 million (+5%) when including its various operating modalities.
Expansion of the ACMI Model
To mitigate the lack of aircraft availability caused by industry-wide engine maintenance issues, airBaltic strengthened its ACMI (Aircraft, Crew, Maintenance, and Insurance) segment.
- ACMI flights increased by 15%, accounting for 30,100 operations out of the total 78,400 flights performed by the company in 2025.
- The airline’s own fleet grew to 51 Airbus A220-300 aircraft, reaffirming its role as the primary global operator of this model.
- The load factor remained stable at 80.2%.
→ airBaltic Receives Its 54th Airbus A220-300, Consolidating Its Single-Fleet Model
Investment in Strategic Infrastructure
During 2025, airBaltic focused not only on passenger transport but also expanded its technical and logistical capabilities to ensure long-term growth.
- Training: Training capacity doubled with the addition of a new Airbus A220 Full Flight Simulator (FFS).
- Maintenance and Cargo: Two new maintenance hangars were inaugurated, and the Baltic Cargo Hub—one of the largest air cargo facilities in the Baltic region—was launched.
2026 Outlook: Connectivity and Technology
Looking ahead, airBaltic’s management, led by President and CEO Erno Hildén, projects a strengthened commercial performance for 2026.
“2025 was a challenging operational year due to engine maintenance issues that affected fleet availability. However, we saw steady demand and an improvement in the overall result, supported by more favorable conditions in the second half of the year”.
For the current year, the airline plans to introduce high-speed onboard connectivity via Starlink, expand routes and frequencies from Baltic capitals, and take delivery of new aircraft to optimize its operational capacity.
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