Gauss is proud of the 13 -year -old airBaltic / day
He points out that on Monday, the Latvian government has expressed distrust as the largest airline shareholder, and the airBaltic council has acted properly, Gauss writes.
He adds that he leaves the airline after 13 intense years, and he is proud of what is « built », a persistent airline, a faithful team and an ambitious vision. « I have given everything and I would do it again, » Gauss points out.
He expresses his gratitude to everyone who has stood with him.
Gauss started its work on November 1, 2011.
LETA has already reported that airBaltic has decided to dismiss Gauss, the former chairman of the airline’s board, from Monday, LETA informed the Ministry of Transport (SM).
Thus, from Monday, Pauls Calītis, the current board member and operational management director, will be part of AirBaltic’s temporary executive. Vitolds Jakovlev, a member and financial director of the Board, will also continue to work on the board of the company.
On Monday, during the shareholders’ meeting, airBaltic’s largest shareholder, SM, expressed distrust of the board chairman Gauss. Following the shareholders’ meeting, airBaltic convened an extraordinary council meeting. In view of the distrust of the shareholder, the Council decided to release former chairman of the board from Monday from Monday.
It has already been reported that at the end of January 2025, an agreement was reached with the German airline « Lufthansa » on investments in airBaltic in the amount of EUR 14 million. In exchange for investment in the Lufthansa Group will receive a convertible share, which will give it 10% participation. Later, after the potential airBaltic IPO, this convertible campaign will be converted to normal shares.
After the IPO Lufthansa Group participation, the potential IPO market price will be determined. The deal also stipulates that Lufthansa Group will be at least 5% of airBaltic’s capital after the potential IPO.
This transaction has yet to obtain permission from the German Federal Cartel Bureau (« Bundeskartellamt »).
Currently, the Latvian state owns 97.97% of airBaltic shares, while financial investor, Danish businessman Lars Nuten, owned by Aircraft Leasing 1 – 2.03%. On August 30, 2024, the Latvian government agreed that the country should retain at least 25% plus one campaign after airBaltic’s IPO.
AirBaltic carried a total of 5.2 million passengers in 2024, up 13% more than a year ago, with 47,000 flights, which is 7% more than a year ago.
In 2024, the airBaltic Group worked with audited losses of EUR 118,159 million, as opposed to profit a year earlier, while the Turnover of the Group increased by 11.9%compared to 2023, reaching EUR 747,572 million.
