Latvia’s national airline airBaltic has appointed Erno Hildén as its new Chief Executive Officer, the company announced. He will assume the role on the 1st of December, 2025.
Hildén, a Finnish national, brings more than 25 years of international experience in aviation and finance. Until June 2025, he served as Executive Vice President and Chief Financial Officer of SAS Scandinavian Airlines. Before joining SAS, he held senior positions at Saudi Arabian Airlines Group and Finnair Plc, where he worked as CFO, COO and served on the board.
The airBaltic Supervisory Board decided on the 7th of April, 2025 to release long-serving CEO Martin Gauss, who had led the airline since November 2011. The international recruitment process attracted more than 40 applications from nearly 30 countries. Eight candidates advanced to the second round, and four to the final stage.
In 2024, airBaltic reported an audited loss of 118.2 million euros, compared to a profit the previous year, while revenue grew 11.9% to 747.6 million euros.
Currently, the Latvian state owns 97.97% of airBaltic, while Danish investor Lars Thuesen’s Aircraft Leasing 1 holds 2.03%. On the 30th of June, 2025, Germany’s Federal Cartel Office approved Lufthansa’s acquisition of a 10% stake in the airline, with the transaction expected to be completed within two months. Following a planned IPO, Lufthansa Group will hold at least 5% of the airline’s capital, while the Latvian government has committed to retaining no less than 25% plus one share.
Read also: Selection of new airBaltic CEO nears completion