airBaltic reports first post-pandemic profit for 2023 in the face of engine challenges

Despite the engine issues continuing to have a “major impact” on the airline throughout the year, airBaltic has recorded a profit of €34 million ($36.9 million) for 2023. It marks a significant improvement from its loss of $54 million in 2022 and the first positive profit in the post-pandemic era. airBaltic recorded a 34% revenue increase year-on-year (YOY), from €500 million ($542.6 million) in 2022 to €668 million ($724.9 million) in 2023. Passengers increased by 36% to 4.5 million and flights increased by 30% to 65,500. The airline said the positive increase comes in spite of the shortage of spare