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airBaltic opts to acquire CSeries aircraft as part of turnaround effort

Analysis

Latvian national airline airBaltic is set to become an all Bombardier operator following its decision to replace its aging 737 fleet with Bombardier's CSeries as it forges ahead with a restructuring plan to return to profitability. airBaltic has signed a letter of intent (LOI) to acquire 10 CS300 jetliners and take purchase rights on a further 10 CS300s with the first of the new aircraft scheduled to arrive at the airline's base in Riga in 4Q2015.

An airBaltic spokesperson told CAPA that the company aims to sign a firm agreement with Bombardier "shortly" and that pre-delivery payments will come from the company's own cash flow. airBaltic Corp's supervisory board, which includes members of its primary shareholder, the Latvian state (which has owned 99.8% of the company's shares since the end of 2011), has endorsed the CSeries order.

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