The Gimballed Limb Observer for Radiance Imaging of the Atmosphere (GLORIA) is an imaging Fourier transform spectrometer that is capable of operating on various high altitude research aircraft. It measures the atmospheric emission in the thermal infrared spectral region in limb and nadir geometry. GLORIA consists of a classical Michelson interferometer combined with an infrared camera. The infrared detector has a usable range of 128 × 128 pixels, measuring up to 16 384 interferograms simultaneously. Imaging Fourier transform spectrometers impose a number of challenges with respect to instrument calibration and algorithm development. The innovative optical setup with extremely high optical throughput requires the development of new methods and algorithms for spectral and radiometric calibration. Due to the vast amount of data there is a high demand for scientifically intelligent optimisation of the data processing. This paper outlines the characterisation and processing steps required for the generation of radiometrically and spectrally calibrated spectra. Methods for performance optimisation of the processing algorithm are presented. The performance of the data processing and the quality of the calibrated spectra are demonstrated for measurements collected during the first deployments of GLORIA on aircraft.