According to airline schedule data, airBaltic will offer 57 direct routes from Riga during the 2027 summer season, a decrease from nearly 70 routes operated in the summer of 2026. The restructuring forms part of a revised business plan aimed at optimizing network strategy based on passenger demand and financial stabilization measures.
Route Network Adjustments and Frequency Changes
The 2027 summer schedule, spanning from late March to late October, includes 55 core destinations alongside Madeira and Sharm el-Sheikh, which will appear in the network for just one month in April before concluding winter operations, according to airline disclosures. Compared to the previous summer season, the carrier is cutting flights to 12 destinations, including Antalya, Dubai, Dublin, Faro, Gothenburg, Innsbruck, Larnaca, Malta, Olbia, Tenerife, Valencia, and Geneva.
Conversely, airBaltic is scaling up flight frequencies on several high-demand routes. According to company schedules, weekly frequencies will increase to 14 flights for London Gatwick, 12 for Paris, 12 for Vienna, seven for Barcelona, seven for Rome, seven for Hamburg, seven for Diseldorf, six for Milan, four for Athens, four for Nice, three for Alicante, and three for Split.
Business Plan and Financial Restructuring
The adjusted summer program aligns with airBaltic’s new business plan, which focuses on high-demand markets for both business and leisure travelers while improving transit connectivity through Riga. To secure liquidity, the airline’s council approved a plan to raise 225 million euros in temporary financing using existing 2029 notes collateral, as reported in corporate filings. Long-term measures involve a recapitalization plan totaling 225 million euros in new borrowing and 100 million euros in new equity, alongside converting a portion of 2029 bonds into equity and reducing remaining debt to 125 million euros.
The fleet strategy accompanying these changes projects the operation of 36 Airbus A220-300 aircraft by the end of 2026, down from 54 currently, with a gradual increase to approximately 40 aircraft by 2031, according to annual financial reports. Valsts prezidents Edgars Rinkēvičs promulgated a financial stabilization law passed by the Saeima, granting the government a mandate to participate in interim financing bond purchases up to 30 million euros on identical terms with private investors. Additionally, the Cabinet of Ministers endorsed capitalizing 50 million euros in state-owned bonds and over 18 million euros in remaining loan claims into company equity, alongside extending an 18 million euro loan principal payment deadline to December 30.
Financial Performance and Shareholder Structure
In 2025, airBaltic reported a group turnover of 779,344 million euros, representing an increase from 2024, while group losses narrowed 2.7 times to 44,337 million euros. Passenger volume grew by 1% to reach 5.2 million travelers. Following market conditions and financial results, the airline has suspended potential initial public offering plans for 2026. The current shareholding structure comprises the Latvian state with 88.37%, Lufthansa with 10%, aircraft leasing enterprise Aircraft Leasing 1 owned by Danish investor Lars Thuesen with 1.62%, and other shareholders holding 0.01%, based on company data.
Frequently Asked Questions
How many direct routes will airBaltic offer from Riga in the summer of 2027?
airBaltic will offer 57 direct routes from Riga, though two destinations—Madeira and Sharm el-Sheikh—will operate for only one month in April, leaving 55 year-round summer destinations.
Which destinations has airBaltic dropped from its summer schedule?
According to airline data, flights to Antalya, Dubai, Dublin, Faro, Gothenburg, Innsbruck, Larnaca, Malta, Olbia, Tenerife, Valencia, and Geneva will not operate in the summer of 2027.
What financial stabilization measures has the Latvian government approved?
The Saeima passed a financial stabilization law allowing the government to participate in interim financing bond purchases up to 30 million euros, capitalize 50 million euros in state-owned bonds, convert over 18 million euros in loan claims into equity, and extend an 18 million euro loan repayment deadline.
What is the current fleet size of airBaltic?
airBaltic operates 54 Airbus A220-300 aircraft, with plans under its revised business plan to adjust the fleet to 36 aircraft by the end of 2026 before growing to approximately 40 by 2031.
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