Last year, airBaltic's losses were 2.7 times lower than in 2024, but still significant 0 7

At the same time, the turnover of the airBaltic group last year increased by 4.2% compared to 2024, amounting to €779.344 million.

In 2025, the airline transported 5.2 million passengers across its route network, which is 1% more than in 2024.

The total number of flights operated, including full aircraft charter services with crew (ACMI), last year amounted to 78,400, which is 7% more than the previous year.

48,300 flights were operated on the airline's own route network — 3% more than in 2024.

30,100 flights were operated under the ACMI scheme, which is 15% more.

The average seat occupancy on airBaltic flights last year was 80.2%, which is 1 percentage point lower than in 2024.

The adjusted earnings before interest, taxes, depreciation, amortization, and leasing, as well as before reserves for litigation (EBITDAR) last year amounted to €143.9 million, while in 2024 it reached €184.2 million.

It was previously reported that in 2024, the airBaltic group operated with audited losses of €118.159 million, while the previous year showed a profit. At the same time, the group's turnover increased by 11.9% compared to 2023, reaching €747.572 million.

At the end of August 2024, the German national airline Lufthansa became a shareholder of airBaltic. Currently:

88.37% of the shares belong to the state of Latvia,

10% — to Lufthansa,

1.62% — to Aircraft Leasing 1, owned by Danish financial investor Lars Tyssen,

0.01% — to other shareholders.

The company's authorized capital amounts to €41.819 million.

After a potential initial public offering (IPO), the size of Lufthansa's stake will be determined based on the market price of the IPO. The deal also stipulates that after the IPO, Lufthansa will own at least 5% of the capital of airBaltic.

On August 30, 2024, the Latvian government agreed that after the IPO, the state must retain at least 25% plus one share in the airline's capital.

Later, on August 19, 2025, the government decided that Latvia, like Lufthansa, would make an additional investment of €14 million in airBaltic before the potential IPO.