Lithuania’s airports posted record results, but their leadership was removed. At the same time, Latvia is trying to borrow from the Lithuanian playbook. What was happening in Baltic aviation in the second half of March?
Several important developments in the second half of March showed that Baltic aviation is entering a more demanding phase. The picture is no longer shaped only by passenger growth, new routes or fleet expansion. Competition between airports, pressure on airline economics and government decisions are now moving to the foreground.
Data card – Baltic airports, February 2026
Lithuania (three-airport system)
Vilnius – 327K (+11%)
Kaunas – 110K (+3%)
Palanga – 32K (+12%)
Total – 469K (+9%)
Latvia
Riga – 435K (~0%)
Estonia
Tallinn – 227K (+5%)
Lithuania: growth without stability at the top
The sharpest signal came from Lithuania. Lithuanian Airports delivered record results, improved connectivity and reached 7.16 million passengers in 2025, yet the Transport Ministry decided to replace the board. Officially, the explanation was the need for stronger competencies and a “new impulse.” In practice, the move followed tensions over the departure of chief executive Simonas Bartkus.
According to LRT, the ministry wanted Bartkus to step down immediately and also proposed its own interim candidate. The board reportedly disagreed, and the board itself was then replaced. That made the decision look especially striking against the traffic backdrop: Lithuania continues to show the strongest airport growth in the region, and not only in Vilnius, but across its three-airport system.
Latvia: Riga Airport shifts to incentives
Latvia moved differently. On March 24, the government approved a new incentive system for airlines at Riga Airport. The updated programme is meant to make the airport more competitive as airlines increasingly shift capacity toward more attractive markets.
The reasoning is straightforward. Vilnius, Kaunas and Tallinn already offer incentive schemes, and Riga can no longer rely on its traditional regional weight alone. With February passenger traffic roughly flat at 435,000, the Latvian response is focused less on celebrating growth and more on defending market share, preserving connectivity and making the airport more attractive to carriers.
Estonia: the Nordica chapter closes
Estonia offered a third angle. There, the last Nordica aircraft left Tallinn after the state-owned asset company Transpordi Varahaldus completed the transfer of all seven CRJ900 aircraft to a buyer. This effectively closes the chapter of Estonia’s state airline project after the bankruptcies of Nordic Aviation Group and Regional Jet.
Tallinn Airport still posted moderate growth in February, with 227,000 passengers, up 5% year on year. But Estonia’s strategic direction now looks the clearest in the region: no national carrier, no attempt to preserve a state airline structure, and greater reliance on the market.
Latvia again: airBaltic under pressure, but still expanding
Latvia is also dealing with a second and more complicated aviation story. On one side, Riga Airport is strengthening incentives to defend its position. On the other, airBaltic remains a strategic national carrier exposed to external shocks.
On March 31, Latvia’s Transport Ministry said the airline had formally informed the state about the impact of the military conflict in the Middle East on its finances and operations. Higher jet fuel prices, suspended flights to Tel Aviv and Dubai, and weaker route economics led to discussions about a possible short-term loan. No decision has been taken, but the signal matters: even a growing regional airline with a modern fleet remains vulnerable when fuel and geopolitics move at the same time.
And yet the airline is still expanding. On April 1, airBaltic received its third Airbus A220-300 of 2026, registered YL-BTE. The aircraft will support both its own network and its ACMI business in other European markets. The contrast is sharp: while the airline is discussing possible short-term stabilisation support, it is also adding capacity and pushing ahead with fleet growth.
Data card – airBaltic
2025 revenue – €779.3 million (+4% YoY)
Net result – -€44.3 million
Passengers carried – 5.2 million (record)
Total flights – 78,400 (+7%)
ACMI flights – 30,100 (+15%)
Load factor – 80.2%
Fleet at 2025 results stage – 51 Airbus A220-300
Fleet after latest April delivery – 54 Airbus A220-300
Long-term fleet plan – up to 99 Airbus A220-300
State voting share – 88.37%
Lufthansa stake – 10%
The numbers show an airline that is still expanding operationally but has not yet solved the question of profitability. Net losses narrowed sharply from the previous year, yet the business remains in the red. ACMI is becoming a larger part of the model, meaning that a growing share of the fleet is working in the wider European market rather than only on the Baltic network.
What the March picture suggests
Taken together, these March developments do not point to one single Baltic pattern. Lithuania is showing the strongest airport growth, but also a more politically sensitive governance story. Latvia is trying to strengthen its airport while also keeping its airline stable through a period of external stress. Estonia has exited the state-carrier model altogether.
That may be the real story of Baltic aviation this spring: not one crisis, but several different responses to the same pressure.