In a recent development, Pilotcenter.net News has reported that three members of airBaltic's supervisory board based in Latvia will be stepping down from their roles come February 2025. The decision to conclude the current board's responsibilities was jointly made by the Latvian Ministry of Transport (MoU) and the airBaltic supervisory board, as announced in a statement by the ministry on January 21, 2025.

According to local media sources, Klāvs Vasks, the current Chairman of the Supervisory Board of airBaltic, is set to resign alongside two other members, Kaspars Ozoliņ and Andris Liepiņš. However, Lars Thuesen, the owner of Aircraft Leasing 1, which holds 2.03% of airBaltic shares and a board member since 2017, will remain on the supervisory board.

Latvian Minister for Transport, Kaspars Briškens, conveyed to TV3.lv that the decision was reached amicably to instigate change within the company. Chairman Vasks acknowledged the challenging nature of the relationship with the government, particularly concerning potential state investments as airBaltic prepared for its IPO, labeling the discussions on this matter as the most difficult.

Briškens expressed optimism about securing a deal with a strategic investor for the airline in the near future, with German carrier Lufthansa emerging as a probable contender as per the TV3.lv report. The MoU officials are actively vetting candidates for the new airBaltic supervisory board, with an interim board expected to be announced shortly.

Earlier this month, tensions surfaced between the Latvian government and airBaltic following the revelation that the airline had to ax 4,670 flights for the upcoming summer 2025 season due to maintenance issues linked to the Pratt & Whitney engines in its A220 fleet.