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Latvian flag carrier airBaltic’s Supervisory Board acted on the decision of a shareholders’ meeting and ousted its CEO, Martin Gauss. He had been CEO of the airline for the past 14 years and accomplished quite a lot in his tenure including being the launch and largest operator of the Airbus A220-300 aircraft in the world.
While Gauss is out at the airline, it’s undeniable that he left a significant mark on the carrier. During his time there, airBaltic modernized its fleet, added Starlink Wi-Fi, and even attracted Lufthansa to want to take a 10% stake in the airline.
In February, airBaltic announced that it will officially become the first European airline to launch Starlink. What’s more exciting is that it will offer the high-speed internet for free across its entire fleet of Airbus A220-300s. Speaking of, airBaltic took on the first Airbus A220-300 back in 2016. It currently operates 50 of the aircraft and it has ordered enough additional jets to operate a fleet of 100 by 2030.
airBaltic has faced the same issues that other carriers have around Pratt & Whitney engines, its proximity to Russia and loss of service (since many of its routes flew there before the invasion of Ukraine), and government control. Much of this was out of Gays’ control, but the Ministry of Transport of the Republic of Latvia expressed a vote of no confidence and his last day was today.
airBaltic’s Chairman, Andrejs Martinovs, said:
On behalf of the airBaltic Council and team, we would like to express our gratitude to Martin Gauss for his leadership, dedication and vision since 2011. For more than a decade, Martin Gauss led the company through significant changes and growth, creating a strong foundation for the airline’s future.
At the same time, confidence is maintained in the airBaltic board and professional team, which ensures the company’s daily operations, passenger transportation and operational management. The core business objectives have not changed and airBaltic continues to work on implementing its strategy and moving towards a potential IPO.”
The driving force behind Gauss’ removal seems to be the desire for an IPO. In 2023, airBaltic made €8.3 million in profit and lost €118.2 million in 2024. Of that loss, €73 million was related to issues with Pratt & Whitney engines and another portion centered on foreign currency fluctuations. A permanent replacement for Gauss has not been named. The current Chief Operations Officer, Pauls Cālītis, will serve as the interim CEO until a new one is appointed.
The airline says that no impact to its operations will be felt as a result of this change. It operates hubs at Riga International Airport (RIX), Tallinn Airport (TLL), and Vilnius International Airport (VNO). airBaltic flies to 130 destinations and there have even been rumors that it might come to the United States.
Anthony’s Take: airBaltic was a nice airline to fly when we visited the Balkan countries. It’s impressive what Gauss accomplished, but like many things you’re only as good as your last earnings report. I wish him all the best.
(Image Credits: airBaltic.)
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Advertiser & Editorial Disclosure: The Bulkhead Seat earns an affiliate commission for anyone approved through the links above This compensation may impact how and where links appear on this site. We work to provide the best publicly available offers to our readers. We frequently update them, but this site does not include all available offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
1 comment
I hear AA could use a capable CEO but The Board seems to prefer inept managers without vision since the merger.