Riga, 01.08.2016.

Latvian airline airBaltic has become a member of Baltic Institute of Corporate Governance (BICG).

Martin Gauss, airBaltic Chief Executive Officer: “Strong corporate governance has been the backbone of airBaltic as we transformed into a profitable airline, and it will define our future under the Horizon 2021 business plan, designed to reinforce our position in the Baltic region.”

Rytis Ambrazevičius, President of Baltic Institute of Corporate Governance: “By continuing to show a strong commitment to good corporate governance, airBaltic leads by example. We are very happy that the leading airline of the Baltic region continues to focus on the best governance principles at the same time as it steps up its growth efforts to further develop as a home carrier for Estonia, Latvia, and Lithuania. We are delighted that airBaltic is joining BICG, and we are confident of reciprocal gains to both sides.”

BICG is a non-profit and non-governmental organization missioned to deliver value to its stakeholders by promoting global competitiveness of enterprises in the Baltics and encouraging the businesses to adopt leading corporate governance practices. The association unites both corporate and individual members. Individual members of the BICG are serving as top management and board members of the companies in the three Baltic states. 

airBaltic photos

airBaltic in brief: airBaltic (AIR BALTIC CORPORATION) is the world’s most punctual airline connecting the Baltic region with 60 destinations in Europe, the Middle East, and the CIS. airBaltic is a joint stock company that was established in 1995. Its primary shareholder is the Latvian state, which holds 80.05% of the stock, while Ralf-Dieter Montag-Girmes holds around 20% through his fully-owned Aircraft Leasing 1 SIA. The airBaltic fleet consists of 24 aircraft – 12 Boeing 737 and 12 Bombardier Q400Next Gen. airBaltic has received numerous international awards for excellence, innovative services, and achievements in reshaping its business. In 2012, airBaltic was ranked by Airlinetrends among the Top 10 airlines globally for innovations. airBaltic achieved the best on-time performance globally for two years running in 2014 and 2015.