airBaltic
About
airBaltic is the Latvian national carrier and a hybrid LCC. It is the first national flag carrier airline to market itself as an LCC. airBaltic maintains close links with SAS, operating frequent services to the latter's hubs in Copenhagen, Oslo and Stockholm thereby operating a ‘dual hub’ system with Riga. The airline operates scheduled services to destinations in Europe, the Middle East and the CIS. Following a share capital increase, the Latvian State holds an 80% in airBaltic, with the remaining stake of approximately 20% owned by Aircraft Leasing 1 SIA (which is owned by Danish entrepreneur Lars Thuesen). airBaltic is the launch customer of the Airbus A220-300.
On 07-May-2020, Latvia's Cabinet of Ministers approved investment of up to EUR250 million into airBaltic's equity, to support the company in overcoming the economic crisis caused by COVID-19. Latvian state's shareholding in airBaltic increased from 80.05% to 91%.
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