Three Members of airBaltics Supervisory Board to Step Down
Three members of the supervisory board at Latvia-based airline airBaltic will resign in February 2025, following an agreement between the Latvian Ministry of Transport (MoT) and the airBaltic supervisory board. The decision, which was made public on January 21, 2025, will see Klāvs Vasks, the current Chairman, along with Kaspars Ozoliņš and Andris Liepiņš, step down from their positions.
The fourth member, Lars Thuesen, who is the owner of Aircraft Leasing 1 and holds a 2.03% stake in airBaltic, will remain on the board. Thuesen has been a member since 2017.
According to Latvian Minister for Transport Kaspars Briškens, the decision was made mutually to drive change within the airline. He stated, “We came to the common conclusion in order to drive change in the company.”
Chairman Vasks, who has been leading the supervisory board, commented that the relationship with the Latvian government had not always been easy, particularly regarding the issue of state investment in the airline as it prepared for a potential public offering. Vasks noted that discussions around additional state funding were the most challenging.
In response, Minister Briškens expressed optimism about finding a strategic investor for airBaltic in the near future, with German airline Lufthansa identified as a potential candidate.
The Ministry of Transport has already begun the process of selecting new candidates for the supervisory board, with an interim board expected to be appointed shortly.
Earlier in January 2025, airBaltic faced tensions with the Latvian government after it was revealed that the airline had to cancel 4,670 flights for the summer 2025 season. The cancellations were caused by ongoing maintenance issues with the Pratt & Whitney engines used in airBaltic’s A220 fleet, further complicating the airline’s operations.
These leadership changes and the ongoing challenges highlight the turbulent period airBaltic is navigating as it prepares for future growth and potential partnerships.
Related News : https://airguide.info/?s=airBaltic