Three airBaltic Supervisory Board Members to Resign in 2025
Three airBaltic Supervisory Board Members to Resign in February 2025
In a significant shift for Latvia’s national airline, airBaltic, three members of the supervisory board will step down from their positions effective February 11, 2025. This decision comes as part of a mutual agreement between the Latvian Ministry of Transport and the airBaltic supervisory board to facilitate necessary changes within the company.
The announcement, made on January 21, 2025, by the Ministry of Transport, reveals that Klāvs Vasks, the current Chairman of the Supervisory Board, will resign alongside fellow board members Kaspars Ozoliņš and Andris Liepiņš. Meanwhile, Lars Thuesen, who owns 2.03% of airBaltic shares through his company Aircraft Leasing 1, will remain on the board, continuing his tenure that began in 2017.
Reasons Behind the Board Resignation
Kaspars Briškens, the Latvian Minister for Transport, highlighted that the decision aimed to drive change within airBaltic. "It’s a mutual agreement," he stated in an interview with local media outlet TV3.lv. He emphasized the need for a fresh approach to steer the airline towards future success.
Klāvs Vasks acknowledged that the relationship between airBaltic and the government was strained, particularly regarding potential state investments as the airline prepares for a public offering. He described discussions surrounding these issues as "the most painful ones."
Future Prospects for airBaltic
Looking ahead, Minister Briškens expressed optimism about securing a strategic investor for airBaltic, with German airline Lufthansa emerging as a potential candidate. The Ministry of Transport is actively selecting candidates for the new supervisory board, with an interim board expected to be appointed shortly.
This board restructuring follows a tumultuous start to 2025 for airBaltic, which faced backlash after announcing the cancellation of 4,670 flights for the summer season due to maintenance problems with Pratt & Whitney engines in its A220 fleet.
Conclusion
As airBaltic prepares for this significant transition, the focus will be on stabilizing operations and securing necessary investments to ensure its future growth. For more updates on airBaltic’s developments, stay tuned to our news section.
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