airBaltic CEO talks finances and new investments | Airlines

May 2024 proved to be consequential for airBaltic on the financial front.  

The Riga-based airline not only posted its highest profit ever (€34 million) for 2023, but it also managed to successfully place the largest corporate bond in the history of Latvia.  

Although the 14.5% interest rate has raised some eyebrows, the €340 million airBaltic has raised this way will allow the airline to save a rather critical financial match-ball.  

The bulk of the proceeds will be used to repay an outstanding €200 million bond that is due to mature in July 2024, with another close to €40 million allocated to return state support funds issued to the carrier by the Latvian government during the COVID-19 pandemic.  

This leaves €100 million in the hands of the airline, which will be used to fund a string of rather ambitious projects, from its continued fleet expansion to the roll out of Starlink on all its aircraft. 

AeroTime met with airBaltic’s CEO Martin Gauss in early June 2024 during the IATA Annual General Meeting (AGM) in Dubai and asked him what the bond placement means for the future of the company and its long-awaited IPO. 

“Now we are focused on what we wanted to do, which is preparing for the IPO,” Gauss explained. “It could happen, potentially, in the second…

Source www.aerotime.aero

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