Romania's Air Claim almost doubles net profit in 2023

The significant improvement in the company's figures came as a result of an expansive online promotion effort that it made, aiming to educate air passengers on their rights as EU citizens while also informing them about Air Claim's services, the company said in a financial report filed with the Bucharest Stock Exchange, BVB.

Air Claim's total revenues surged by an annual 168.6% to 12.1 million lei last year, while its total expenses increased at an even faster pace of 190.4% to 8.2 million lei, it said.

The company's assets totalled 8.02 million lei at the end of last year, which is an increase of 28.5% over 2022, while its total debts amounted to 1.56 million lei, representing a 31.3% annual drop.

Founded in 2017, Air Claim is an intermediary in obtaining compensations for airline passengers whose flights were delayed, cancelled, overbooked, in case of a lost connection or of a refusal to embark from the air operators. The company was listed on the BVB in 2021.

Air Claim's shares last traded on April 16, closing 0.83% lower at 5.95 lei on the Bucharest bourse.

(1 euro=4.9754 lei)