Latvian airline airBaltic has released its first-quarter financial and operational results, showing a significant increase in losses despite record passenger traffic and fleet utilization. The airline's revenue reached 149.1 million euros, a 12.3% increase over the same period in 2025, marking its highest first-quarter sales. However, the net loss more than doubled to 70.1 million euros from 29.3 million euros a year earlier, driven by currency effects and rising costs.
During the quarter, airBaltic carried approximately 1.044 million passengers domestically, with total passengers including ACMI activities reaching 1.5 million, setting new records. The airline operated 15,100 flights, representing an increase from 13,600 in the prior year, with a load factor of 74.8%, slightly down from 75.9%, due to increased available seat capacity and higher fleet utilization.
The airline announced that it has now fully operationalized its entire fleet of 55 Airbus A220-300s, with no aircraft grounded due to engine availability. Despite operational improvements, airBaltic's financial health remains tight, with cash reserves at 32.9 million euros and liabilities significantly exceeding assets.
The Latvian government holds a 98% stake in airBaltic, which continues to face economic challenges amid a difficult global industry environment. CEO Erno Hildén emphasized focusing on sales quality and cost control for 2026, despite ongoing financial pressures.
