In what it said were “positive business indicators”, Latvia’s airBaltic reported a record €104.3 million revenue in the first quarter of 2023 (Q1 2023), up by 74% on Q1 2022. Passenger numbers were up almost 80% 0ver the period to almost 770,000, the carrier reported, with chief executive and president Martin Gauss saying the results “exceeded our expectations” and showed the airline to be “on the way back to persistent profitability”. Gauss explained that the target for the year was €700 million in revenue and 4.4 million passengers, ahead of a planned IPO in 2024.

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