airBaltic

airBaltic was founded in 1995 as a joint venture between the Latvian government and SAS Group, replacing the Soviet-era Aeroflot operations that had served Latvia during the USSR period. The airline launched operations in October 1995 with a small fleet serving Baltic and European routes. SAS's involvement brought operational expertise and network connections, while the Latvian government's majority ownership ensured political support and route development. airBaltic grew steadily through the late 1990s and 2000s, establishing Riga as a regional hub for Baltic travel.

The 2008 global financial crisis severely damaged the airline, and SAS sold its stake to the Latvian government and private investors in 2011. An important turning point came with the arrival of CEO Martin Gauss in 2011, who implemented a radical restructuring that transformed airBaltic from a loss-making carrier into one of Europe's most profitable regional airlines. Gauss made the bold decision to order the Bombardier C Series (later Airbus A220) — then an unproven new aircraft — in large numbers, betting on its exceptional fuel efficiency and passenger appeal. The bet paid off enormously.

airBaltic became the launch customer for the A220-300 variant and has progressively retired all other aircraft types, operating an exclusive all-A220 fleet since 2023.