airBaltic CEO Cuts Salary to Zero During Crisis

The President and CEO of airBaltic Martin Gauss announced that he will give up his salary during the crisis thus supporting the company in coping with this extraordinary situation.

Martin Gauss, CEO of airBaltic: "Starting from April until we can start scheduled operations again, I will receive no salary and Members of the Board, the Supervisory Board and managers have taken already a volunteer pay cut of 20% from their salary."

The ongoing Coronavirus crisis in the world and its impact on aviation industry forces airlines to stop flying. This shock to the industry from Coronavirus is emptying the skies. airBaltic is currently working on restarting its scheduled operations once it is possible again and the demand from passengers for travel returns.

airBaltic in brief:

airBaltic (AIR BALTIC CORPORATION) is one of the most punctual airlines in the world connecting the Baltic region with over 70 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 around 80% of the stock, while Lars Thuesen holds around 20% through his fully-owned Aircraft Leasing 1 SIA. The airBaltic fleet consists of 38 aircraft – 22 Airbus A220-300s, 4 Boeing 737s and 12 Bombardier Q400Next Gen aircraft. airBaltic has received numerous international awards for excellence and innovative services. In 2017, the airline received the CAPA Regional Airline of the Year award, while in 2018 and 2019 airBaltic received the ATW Airline Industry Achievement Award as the Market Leader of the Year. In addition, in 2019 airBaltic received Sector Leadership Award by Airline Business.

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