Riga-based airBaltic said it recorded "operating earnings" of €32 million in 2022 and 145% revenue growth to just over half a billion euros, leaving it with a net loss of €54.2 million.
The loss was a "significant improvement" of around €81 million on 2021, the carrier said, with its EBITDAR increasing from €300,000 to €129.7 million.
Passenger numbers hit 3.3 million, representing a growth of 105% increase on 59% more flights.
“With more than half a billion euros in revenue and 3.3 million passengers, airBaltic is on the way back to persistent profitability," said chief executive Martin Gauss.
“Looking ahead to 2023, we are filled with strength, ideas, and determination and we continue the successful course we have taken which will help airBaltic reach its IPO in 2024," added Gauss, who is also the airline's president.