airBaltic Reports Best-ever Q1 Revenue Results

‍DALLAS — The Nordic European airline airBaltic (BT), mainly based at airports in Lithuania, Latvia, and Estonia, has made its preliminary financial results public for the first quarter of 2024. 

The airline expects a historic revenue improvement of 26% compared to last year, the highest since its foundation in August 1995.

The Baltics' flag carrier announced that between January and March 2024, its expansion toward Southern European cities and fleet growth will transform into revenue of 132€ million. 

At the same time, more than 40 aircraft transported 926.000 passengers, 20% more than during the same period in 2023.

airBaltic's Operational Savvy

During the European winter season, BT commenced a new operational plan, which consisted of deploying two Airbus A220-300 jets to the island airport of Gran Canaria (LPA).

During the colder months, the Canary Islands archipelago receives a massive wave of Nordic tourists. The company saw a new opportunity to launch up to 10 routes from LPA not only to the three Baltic States but also to Oslo (TRF), Aalborg (AAL), Billund (BLL) and Copenhagen (CPH) in Norway and Denmark.

Another significant factor supporting the carrier's substantial growth during the first quarter of 2024 is its dedication to aircraft wet-lease, positioning itself as the pioneering “Premium ACMI Operator” in Europe. 

AirBaltic played a key role in providing aircraft to the Lufthansa Group, leasing Airbus A220 planes to subsidiaries like Deutsche Lufthansa (LH), Swiss (LX), or Eurowings (EW).

Featured image showcases the Airbus A220, an aircraft that has defined BT's growth as an airline over the last eight years.