Latvia’s national air carrier, airBaltic, cannot meet its obligations and achieve its strategic objectives if the company continues to operate with negative equity, supervisory board chairman Klavs Vasks stated, LETA reports. An additional capital injection from the state is therefore probably inevitable unless the government is prepared to privatise the company, Vasks said. The investment…
Latvia’s national air carrier, airBaltic, will cancel altogether 4,670 flights in summer 2025, LSM reports. The company will suspend flights on 19 routes and cut the number of flights on 21 routes. The cancellations will affect around 67,160 passengers. The company said that US manufacturer Pratt & Whitney’s engine maintenance work on the airline’s Airbus…
British air carrier and tour operator Jet2 will offer direct flights from Birmingham, Manchester, and Edinburgh to the Estonian capital, Tallinn, in November and December 2025, ERR reports. The company will have two flights per week on the routes, expecting to bring altogether more than 4,000 holiday-makers to Tallinn. Meanwhile, Swiss International Air Lines will…
Estonia’s state-owned Nordic Aviation Group (NAG) has filed bankruptcy applications for the Nordica and Regional Jet (Xfly) airlines, ERR reports. NAG decided to file for bankruptcy after Danish entrepreneur Lars Thuesen, minority shareholder of Latvia’s national air carrier, airBaltic, announced that he would not acquire Nordica due to the high business risks involved. Earlier, Nordic…
Latvia’s national air carrier, airBaltic, has drawn up a plan to resume flights to Ukraine as soon as it is safe to do so, Ukrainska Pravda reports. Speaking in an interview with Bloomberg, airBaltic CEO Martin Gauss said that the company planned to divert aircraft from other routes and implement overnight stops in Ukraine. He…
Latvia’s national air carrier, airBaltic, plans to expand its operations at Lithuania’s Vilnius International Airport (VIA), CEO Martin Gauss announced, LETA reports. He said that the company would more than double its fleet in Vilnius and increase the number of destinations offered from the airport. Currently, airBaltic has two aircraft stationed at VIA. Gauss said…
The Latvian parliament, the Saeima, has rejected a motion of no confidence submitted by the opposition National Alliance against Transport Minister Kaspars Briskens, LSM reports. Altogether 48 MPs voted against the motion, 43 in favour, and none abstained. The opposition’s criticism was related to problems at state-owned postal company Latvijas Pasts, national air carrier airBaltic,…
Latvia’s national air carrier, airBaltic, may gain a new strategic investor either before or after the company’s planned IPO, according to CEO Martin Gauss, LETA reports. The company expects to announce the IPO in the second half of 2024 or in 2025. The goal is to raise EUR 300mn on the stock exchange, ERR reports….
Latvia’s three-party coalition government remains stable, Prime Minister Evika Silina assured, LSM reports. Speaking in an interview with LTV, Silina said that the main issues facing the government included next year’s budget, tax reforms, funding for the Rail Baltica railway project, and the planned IPO of national air carrier airBaltic. However, the Prime Minister implied…