Mar 19 β€’ 16:40 UTC πŸ‡ͺπŸ‡ͺ Estonia ERR

According to Air Baltic, Tallinn Airport will remain an important base for them

Air Baltic's management considers Tallinn Airport to be a crucial base and is currently seeking additional funding from private capital markets.

Air Baltic has reaffirmed that Tallinn Airport will continue to be an important base for its operations, as stated by the Vice Chairman of the company's board, Jurgis Sedlenieks. The airline has managed to reduce its losses to 44 million euros while increasing its revenue slightly to 780 million euros according to last year's report. The current CEO, Erno Hilden, is seen as successfully meeting the expectations set for his first hundred days in office, focusing on profitability as a priority.

While an initial public offering (IPO) was once considered a primary focus, Sedlenieks has indicated that it is no longer the main direction for the company. Instead, Air Baltic is prioritizing finding investments through private capital markets. The airline is currently working to secure these funds, especially after the finalization of Lufthansa's stake in Air Baltic in the latter half of last year, which has provided the company with a strategic advantage. The situation in the aviation market remains challenging, but the airline's proactive approach suggests a commitment to strengthening its financial position.

Overall, the statements from Air Baltic emphasize the airline's strategic goals and adaptability in a competitive market. With ongoing efforts to secure funding and a clear focus on profitability under the new leadership, Air Baltic aims to stabilize and expand its operations, particularly in connection with its crucial base in Tallinn Airport.

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