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Klāvs Vasks, the Chair of the Supervisory Board at airBaltic, has announced his resignation effective February 11. In a LinkedIn post, Vasks described his tenure as a "crazy rollercoaster ride" over the past 18 months, highlighting both challenges and successes.
During this period, airBaltic attracted an unspecified strategic investor and advanced its initial public offering (IPO) process. Vasks emphasized the importance of airBaltic to Latvia's economy, stating that efforts were made to change political approaches for asset development crucial to the country.
A report by the International Air Transport Association (IATA) revealed that Latvia's aviation sector directly employs around 8,600 people and contributed $452.3 million to the economy in 2023. The broader impact is estimated at $1.9 billion, supporting 36,600 jobs and accounting for 4.4% of Latvia's GDP.
