AirBaltic planned dual-listing initial public offering (IPO) for the first half of 2025 may now be pushed to 2026 depending on market conditions and investor feedback.
The airline reported a pre-tax loss of EUR 48.5 million (USD 51.3 million) for the first nine months of 2024, compared to a profit of EUR 9.1 million in the same period of 2023, attributing the loss to engine issues, currency depreciation, and one-off bond expenses.
Despite financial challenges, including negative equity of EUR 97 million, airBaltic believes it can manage its liquidity needs over the next two years through revenue growth and flexibility in capital expenditures.
airBaltic’s revenue grew by 13% year-over-year to EUR 575.3 million (USD 609 million), with wet-lease operations contributing significantly, and there are reports of ongoing discussions with Lufthansa Group regarding a potential investment in a 10% stake in the airline.
