Latvian national airline Air Baltic’s annual turnover the first three quarters of 2023 was up 28.2 percent on year to €219.3 million.However, after reporting net losses of €33.9 million in third quarter (Q3) of 2022, the airline also had losses of €5.5 million in Q3 this year.
Air Baltic’s turnover for the first nine months of this year rose by 40.8 percent to €510.6 million.While last year, the company had made €125 million in losses at this stage, this year it has made €9.1 million net profit over the first three quarters.
The company’s chief executive Martin Gauss, said the third-quarter result had been adversely affected by problems with aircraft engine orders and idle aircraft.
Read more: ERR.EE
