airBaltic increases loss to €128.2 million in six months — LSM English

Latvian national airline airBaltic recorded a loss of €128.2 million in the first half of 2026. The carrier’s revenue for the period increased by 14.2% year-on-year to €399.2 million, LSM English reports.

Loss increased compared with last year

In the first six months of 2025, airBaltic’s loss amounted to €1.7 million. The company said that high aviation fuel prices linked to the escalation of the conflict in the Middle East had a significant impact on its financial result. They offset the positive passenger traffic trend.

In January-June, airBaltic operated 42,300 flights, 16.2% more than a year earlier. The number of flights on its route network increased by 5% to 24,000, while the number of leasing flights rose by 35% to 18,300. In the second quarter, the company leased out an average of 26 aircraft, compared with 19 in the same period of the previous year.

More current news is available on the UA.News Telegram channel Telegram.

Fleet reduction and restructuring

airBaltic’s load factor for the first half of the year was 77.3%, compared with 78.2% in the same period of 2025. The airline’s president and CEO, Erno Hildén, said that the industry is facing significant external pressure due to record-high aviation fuel prices. According to him, the company’s priority is to strengthen its financial foundation, improve efficiency and achieve sustainable profitability.

airBaltic plans to reduce its fleet by about one-third by the end of the year, from 54 to around 36 aircraft. The carrier also intends to lay off hundreds of employees, significantly reduce operations in other countries, and has already announced a reduction in the number of routes next summer. In September, the company voluntarily filed for Chapter 11 bankruptcy protection in the United States to begin restructuring its financial obligations. The Latvian state owns 88.37% of airBaltic shares, Lufthansa owns 10%, and private shareholders own 1.63%.