Latvian carrier airBaltic posts €6M Q3 net profit despite passenger drop

Latvian airline airBaltic has announced a net profit of €6 million for the third quarter of 2025, noting that revenues increased despite a decline in passenger numbers. The carrier described this period as a “pivotal quarter” in shaping its full-year results. 

In its unaudited financial and operational report for Q3 2025 and the first nine months of the year, the airline revealed it earned €244.7 million in revenue in Q3 2025, marking a 3.7% rise compared to the previous year, despite a 5.1% drop in passenger numbers. 

“While passenger numbers in Q3 were slightly lower than last year, mainly due to network optimizations, we increased ticket yields, continued to grow revenue and strengthened our ACMI strategy,” the CEO of airBaltic Pauls Cālītis said. 

During the quarter, airBaltic conducted 13,400 scheduled flights, while ACMI-out flights increased by 10.8% to over 10,500, totaling 23,900 flights.  

The airline added that it wet-leased up to 19 aircraft to the Lufthansa Group and offered short-term services to other major European airlines. 

Growth despite geopolitical uncertainty 

In the first nine months of 2025, airBaltic announced a net profit of €4.2 million, which is a change of €52.8 million compared to last year’s loss of €48.5 million. 

Revenue increased to €594.3 million, marking a 3.3% rise compared to the same period last year. 

Additionally, airBaltic said that in the first nine months, the number of passengers grew by 1.7% to 3.9 million, and the total number of flights rose to 36,300, which marks a 2.4% increase year-on-year.  

Total flights, including ACMI operations, saw a growth of 5.9%, showing that both scheduled and wet-lease operations have continued to grow so far in 2025. 

The airline added that geopolitical risks, especially in the Middle East, are being closely monitored due to their possible effects on fuel prices, but overall travel demand and market indicators remain strong.  

Revenue and capacity goals for 2025 

Based on the Q3 results, the airline said that total revenue for the whole year is projected to be between €780 million and €790 million. 

The airline added that the capacity goals are still the same, aiming for about a 5% rise in seat capacity within airBaltic’s network, along with a 20% boost in ACMI-out capacity compared to 2024. 

airBaltic concluded that the outlook also assumes gradual improvement in engine availability. The post Latvian carrier airBaltic posts €6M Q3 net profit despite passenger drop appeared first on AeroTime.

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