Latvian Government Greenlights airBaltic’s New Business Plan

The Cabinet of Ministers has given the go-ahead for airBaltic’s business plan, which focuses on financial stabilization and strategic development. Transport Minister Rihards Kozlovskis emphasized that airBaltic is crucial for Latvia’s international connectivity and economy, and that the state, as a responsible shareholder and creditor, must be involved in the stabilization process.

The plan was developed by airBaltic’s management in cooperation with international aviation consultants Seabury, following the shareholder’s strategic guidelines. Its primary goal is to achieve sustainable growth and gradually reduce reliance on state support. The plan is built on four key principles: continuity of operations, strengthening Riga as a Baltic aviation hub, regional connectivity development, and financial sustainability.

The Ministry of Transport (MoT) highlights that improving airBaltic’s operational model and stabilizing its finances are among its priorities. The new business plan provides a clear roadmap for the airline to return to profitable operations.

A bondholders’ meeting scheduled for August 3 is a significant step in the financing process. The agenda includes decisions on amendments to meeting requirements, financing solutions, and deferral of interest payments to support liquidity during plan implementation. The agenda has already been published on the stock exchange, and decisions will be disclosed in accordance with regulations.

Meanwhile, airBaltic continues its regular flight schedule, ensuring safe and reliable services for passengers.