Published by Global Banking & Finance Review®
Posted on April 7, 2025
2 min readLast updated: January 24, 2026
Add as preferred source on GoogleOutgoing airBaltic CEO Martin Gauss criticizes the Latvian government's handling of his ouster, affecting the airline's growth and IPO plans.
By Tim Hepher and Joanna Plucinska
LONDON (Reuters) -The outgoing boss of airBaltic said he had been caught by surprise by his sudden ouster on Monday and hit out at the Latvian government's "nasty" handling of his departure, but hoped it would clear the air for the airline to pursue its growth strategy.
Martin Gauss, who is German, has held the position of CEO since 2011. He was charged with helping the airline launch an initial public offering, which has been repeatedly pushed back.
"I lost the trust of the government. They were not happy with last year's result," Gauss told Reuters over the telephone hours after the airline abruptly announced his resignation.
He said the board read a statement saying they'd lost confidence in him at a shareholders' meeting.
The airline recently sold a 10% stake to German airline group Lufthansa, as it said it struggled with engine delivery delays and sought to push back its planned IPO to 2026.
"Our core objectives remain unchanged, and airBaltic continues to implement its strategy and move forward toward a potential IPO," said Andrejs Martinovs, the chairman of the primarily state-owned airline's supervisory board.
Gauss told Reuters that this was the sixth Latvian government that he had dealt with and that he struggled with the most recent one.
Pauls Calitis, the current chief operations officer, will take over as interim CEO, the company said in a statement.
"I really hope that it's politics and that this now helps the company...(so) that they can get into that future I had envisioned for it," Gauss said.
(Editing by Tomasz Janowski and Mark Potter)
The article discusses the ouster of airBaltic CEO Martin Gauss and its implications for the airline's growth strategy.
Martin Gauss was ousted due to the Latvian government's loss of trust following unsatisfactory results from the previous year.
airBaltic plans to continue its growth strategy and has postponed its IPO to 2026.
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