The decision by the Ministry of Transport to dismiss Martin Gauss, CEO of the national airline airBaltic, was primarily influenced by the company’s financial results for the previous year, which showed losses of 118 million euros. This was stated by Minister of Transport Atis Švinka (Progressives) in an interview with Latvian Radio’s “Labrīt” programme, according to LSM.lv.
In a separate interview on Latvian Television’s “Rīta panorāma”, Švinka said he is pleased that the airline’s board and management are taking airBaltic’s financial situation very seriously.
“After reviewing all financial indicators in detail and closely examining everything that has happened with airBaltic, I also reviewed the board’s opinion attached to the 2024 annual report. Taken together, all of this led to the shareholder’s decision—represented by the Ministry of Transport as the holder of state capital shares—to express a lack of confidence in the company’s CEO,” Švinka explained.
The minister stressed that losses of 118 million euros in 2024 are a significant signal that could not be ignored, LSM.lv reports.