AirBaltic Says It Will Continue Flying From Tallinn
5 Articles
5 Articles
After the CEO of airBaltic announced plans to more than halve the number of aircraft, politicians in Lithuania have begun to talk about how the airline's crisis could affect transportation as Lithuania approaches its presidency of the Council of the European Union. Lithuanian airports say that the current flight schedule should meet expectations.
AirBaltic says it will continue flying from Tallinn
The future of Latvian airline airBaltic is in the hands of its creditors, Prime Minister Andris Kulbergs said. Potential strategic investors are waiting for airBaltic to become viable and profitable. Under the new business plan approved on Wednesday, the airline will fly to fewer destinations but with higher frequency.
Latvian Air Baltic has done everything that Estonians failed at twice in a row: flying people from a tiny corner of the country all over the world and competing with the big European aviation giants. The plans were ambitious, the company had the eternal support of the Latvian government, but now Air Baltic is floundering in a debt swamp and looking for a saving straw.
Air Baltic's announced strategy review may at first glance seem like yet another adjustment to the airline's business plan. However, this time the change is much more fundamental. The company is essentially abandoning the strategy of recent years, which was centered on rapid growth and a plan to eventually approach a fleet of 100 Airbus A220-300 aircraft through wet lease services.
airBaltic to cut A220 fleet to 36 by YE26
airBaltic (BT, Riga) plans to reduce its fleet to around thirty-six A220-300s by the end of 2026 from 54 currently, before gradually increasing it to around 40 aircraft by 2031, as it shifts from expansion towards financial stability. In a statement, the Latvian carrier disclosed details of its revised business plan, which replaces an earlier plan centred on a potential initial public offering. That plan envisaged growing the fleet to 100 aircra…
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