airBaltic has set a new course prioritizing “financial stability first, growth second” in a bid to secure its long-term future and competitiveness. The Lavian flag carrier was required to develop a completely new strategy and business plan to ensure its sustainability without regular state financial involvement. Some parts of the proposed recapitalization remain subject to the required approvals. “Under the revised business plan, airBaltic expects revenue to reach approximately EUR 0.8 billion in 2027, increasing to EUR 0.9 billion in 2029 and EUR 1.0 billion by 2031,” airBaltic added. Holders of airBaltic’s 2029 Senior Secured Notes are encouraged to take part in votes on the proposed recapitalization and new business plan.