airBaltic Reports €6M Q3 Profit Despite Decrease in Passengers

Latvian airline airBaltic has reported a net profit of €6 million for the third quarter of 2025, highlighting an increase in revenue even as passenger numbers experienced a decline. The airline characterized this period as a crucial quarter for its annual outcomes.

In its financial and operational report for Q3 2025 and the first nine months of the year, airBaltic disclosed revenues of €244.7 million, representing a 3.7% increase compared to the previous year, despite a 5.1% reduction in passenger count.

“Although the number of passengers in Q3 dipped slightly due to network optimizations, we were able to increase ticket yields, enhance our revenue, and fortify our ACMI strategy,” stated Pauls Cālītis, CEO of airBaltic.

Throughout the quarter, the airline conducted 13,400 scheduled flights, and ACMI operations rose by 10.8%, totaling over 10,500 flights, culminating in 23,900 flights overall.

The airline also mentioned that it wet-leased up to 19 aircraft to the Lufthansa Group, providing short-term services for other major airlines across Europe.

Growth Amidst Geopolitical Challenges

For the first nine months of 2025, airBaltic reported a net profit of €4.2 million, a significant turnaround from last year’s loss of €48.5 million.

Revenue climbed to €594.3 million, which is a 3.3% increase compared to the same timeframe in the prior year.

Furthermore, airBaltic noted a 1.7% increase in passenger numbers to 3.9 million and an overall rise in flights to 36,300, marking a 2.4% year-on-year growth.

Including ACMI operations, total flights grew by 5.9%, reflecting ongoing expansion in both scheduled and wet-lease services in 2025.

The airline is closely monitoring geopolitical risks, particularly in the Middle East, due to their potential impact on fuel prices; however, overall travel demand remains robust.

Projected Revenue and Capacity Goals for 2025

Following the Q3 results, airBaltic has projected total revenue for the entire year to fall between €780 million and €790 million.

The airline confirmed its capacity goals remain unchanged, targeting approximately a 5% increase in seat capacity throughout its network, alongside a 20% rise in ACMI-out capacity when compared to 2024.

airBaltic also anticipates a gradual improvement in engine availability, further enhancing its operational capabilities.