airBaltic leadership invests in delivery of IPO to align with Latvian public and shareholders
airBaltic's executive board voluntarily cuts their salaries by 40% until their IPO, demonstrating commitment to the company's financial strategy and future growth. The article airBaltic leadership invests in delivery of IPO to align with Latvian public and shareholders first appeared in TravelDailyNews International.
RIGA – The executive board of airBaltic has voluntarily agreed to temporarily waive part of their fixed salaries, reducing them by 40%, until the successful completion of the company’s initial public offering (IPO). This decision demonstrates the executive board’s alignment to shareholder interests, with the company focused on minimizing costs as it works towards delivering a successful IPO.
The IPO remains a key strategic priority for airBaltic, reinforcing the company’s financial resilience and enabling further expansion. The voluntary salary reduction will be aligned to compensation upon the IPO and reflects the executive board’s strong belief in airBaltic’s value proposition.
Andrejs Martinovs, Chairman of the Supervisory Board of airBaltic, commented: “This decision by the executive board is a clear demonstration of their confidence in the airline’s future and their unwavering commitment to delivering a successful IPO. Their leadership and dedication are crucial as we move forward with this important milestone for airBaltic. The supervisory board fully supports this initiative and remains committed to ensuring a smooth and successful transition to becoming a publicly traded company.”
airBaltic aims to strengthen its position as the Baltic region’s leading airline and one of Europe’s fastest-growing carriers, building on its strong track record. The company is closely monitoring capital markets and global aviation sector developments to ensure the IPO is launched at the optimal time to create the most value.
airBaltic operates more than 130 routes from Riga, Tallinn, Vilnius, Tampere and, seasonally, Gran Canaria, offering connections to a wide range of destinations in the airline’s route network in Europe, the Middle East, North Africa, and the Caucasus region.
The article airBaltic leadership invests in delivery of IPO to align with Latvian public and shareholders first appeared in TravelDailyNews International.
