Portugal Colonial - airBaltic CEO 'dismissed' from Latvian airline

"I inform you that Martin Gauss has been dismissed from his position. It is important for me to see results," Svinka said on social network X.

The Latvian state has a majority stake in the carrier, which last month said it had posted a net loss of 118 million euros ($129 million) last year.

"AirBaltic is a company of national importance, and it must be able to independently develop and adapt to external conditions," Svinka added.

AirBaltic announced in January that additional engine maintenance demands would force the cancellation of more than 4,600 flights this year.

The airline flies exclusively Airbus A220-300, which are equipped with modern fuel efficient Pratt & Whitney engines that have been found to be susceptible to microscopic cracks and require replacement ahead of schedule.

Parts shortages mean several aircraft have to be taken out of service during the peak summer travel season.

The transport ministry said in a statement that the decision regarding Gauss was taken by the supervisory board after Monday's shareholder meeting.

The ministry said it "expressed its loss of confidence in" Gauss at the meeting, "calling for a vote to oust him from the job".

Gauss had been with the airline for more than a decade.

"Today, my journey as CEO of @airBaltic comes to an end," he wrote on X.

"The Latvian government, as majority shareholder, has withdrawn its trust — and the Supervisory Board has acted accordingly," he said.

The airline said in a statement on X that management board member and chief operating officer Pauls Calitis would take over as interim CEO.

The chairman of the supervisory board, Andrejs Martinovs, said "core objectives remain unchanged, and airBaltic continues to implement its strategy and move forward toward a potential IPO".

C.Cassis--PC