Latvian airline airBaltic announced a 4% increase in revenue for the previous year, although it still recorded losses amounting to 44.3 million euros. The losses were attributed to several external and operational factors, including increased environmental protection and operational costs, lower-than-expected utilization of ACMI (Aircraft, Crew, Maintenance, and Insurance) services during the winter season, and costs associated with engine maintenance. Despite these challenges, the airline noted that the results were bolstered by a gain from the reevaluation of currency exchange linked to liabilities denominated in US dollars.

In the second half of the year, airBaltic saw improvements in operational performance and revenue quality, which provided a more stable foundation for its operations heading into 2026. The airline reported a corrected EBITDAR (earnings before interest, taxes, depreciation, amortization, and rental/restructuring costs) of 143.9 million euros for 2025, which is a decrease from 184.2 million euros the previous year. The EBITDAR margin stood at 18.5%, down from 24.6% in 2024, indicating increased operational costs have negatively affected profitability.

The company stated that the higher operating costs and the adverse impact of revenue during the first half of the year contributed to overall financial performance. While airBaltic faces challenges ahead, including the need to manage costs effectively and improve revenue generation mechanisms in a competitive environment, it aims to leverage its operational improvements as a stepping stone for future growth and stability in its operations.