AirBaltic's CEO is ousted due to financial troubles, with an interim leader taking over.

Latvian Transport Minister Atis Svinka announced the dismissal of AirBaltic CEO Martin Gauss, with Pauls Calitis taking over as interim CEO. The Latvian state, which holds a majority stake in the airline, made the decision following financial struggles and engine maintenance issues. AirBaltic aims to continue its strategy and move toward a potential IPO despite the leadership change.