newstodate.aero

Jul 28, 2020 (newstodate): The Latvian carrier airBaltic is obviously in no need for adding more aircraft to its fleet under the prevailing situation.
   A 23rd Airbus A220-300 aircraft is still awaiting delivery after having performed its first flight in the test program as early as May 23, 2020 - but so far it remains firmly on the Airbus factory tarmac at Toulouse Airport while work on the next aircraft for airBaltic has yet to be started.
   In the meantime, the EU Commission has given its green light for the Latvian state's injection of 250 million euro into the equity of airBaltic in order to overcome the economic crisis caused by COVID-19.
   After this recapitalization, the Latvian state holds 90 percent of the shares, with the remaining 10 percent in the hands of Danish investor Lars Thuesen who stepped in by April 2017 to take 20 percent of the stake.
   The state support builds on airBaltic's revised business plan foreseeing a reduced fleet, with resumption of services requiring only the 22 Airbus A220-300 aircraft already in the fleet.  
   The new plan takes into account a reduced need of capacity in 2020 and 2021, while at the same time forecasting a return to growth with up to 50 Airbus A220-300 aircraft in service by the end of 2023.  
   The additional 30 Airbus A220-300 options remain for future growth.
   In any case, even the fleet of 50 Airbus A220-300 aircraft would be far exceed the potentials in the three Baltic markets, seeing airBaltic to strengthen its role in the ACMI market as well as possibly setting up new bases outside the home market as demand for air travel rebounds.     
   As of now, airBaltic operates 16 of the 22 Airbus A220-300 aircraft, keeping six on the ground alongside the entire fleet of 12 Dash 8-400 aircraft that are in the process of being returned to the lessor, Nordic Aviation Capital.
   airBaltic was the launch carrier of the Bombardier CS300, later renamed Airbus A220-300, with its first CS300 on scheduled flights from December 14, 2016.