airBaltic CEO Martin Gauss dismissed after shareholder no-confidence vote

Martin Gauss, CEO of Latvian airline airBaltic since 2011, was dismissed on 7 April following a shareholders’ vote of no confidence, initiated by the Ministry of Transport. The ministry did not specify the exact reason for the vote, though it followed confirmation of the airline’s 2024 financial results.

Paul Calitis, Chief Operating Officer, steps in as interim CEO, with CFO Vitolds Jakov?evs remaining on the Board. The Ministry emphasised the goal of strengthening competitiveness and moving toward a potential IPO, though it’s unclear how Gauss’s departure will affect this timeline.

While Gauss is credited with turning around the airline and leading its growth, his tenure faced criticism over state support and limited Latvian language use. Despite this, airBaltic has remained operational and expanded while regional competitors collapsed. The Lufthansa Group’s upcoming 10% investment, expected in Q2 2025, will add a Supervisory Board member pending regulatory approval.