Wednesday, August 14, 2024 During today’s investor conference call, airBaltic ’s President and CEO, Martin Gauss, along with CFO Vitolds Jakovļevs and COO Pauls Cālītis, unveiled the airline’s preliminary unaudited financial results for the first half of 2024, concluding on June 30. airBaltic continues to demonstrate robust business, financial, and operational performance, building on its strong Q1 results. Key Highlights: Martin Gauss , President and CEO of airBaltic: “We have had a strong first half of the year, driven by an increase in flights and passengers, enhanced efficiency, and a dedicated focus on customer service.
Similar to others in the industry, we have faced rising costs and capacity challenges, yet our strategic focus and operational efficiency have allowed us to handle these challenges successfully. Moreover, airBaltic’s performance in H1 demonstrates the airline’s resilience and capability to adapt and thrive in a challenging market environment.” “Despite the positive figures, airBaltic experienced a net loss primarily due to the anticipated Pratt & Whitney engine shortage in 2024, accelerated depreciation costs driven by engines undergoing full interval shop visits ahead of schedule – partially caused by the powdered metal issue – as well as currency depreciation, and one-off costs associated with the early redemption of our previous bond.
Nevertheless, we continue to see strong performance aligned with our expectations, and our fo.