airBaltic (BT, Riga) plans to reduce its fleet to around thirty-six A220-300s by the end of 2026 from 54 currently, before gradually increasing it to around 40 aircraft by 2031, as it shifts from expansion towards financial stability.
In a statement, the Latvian carrier disclosed details of its revised business plan, which replaces an earlier plan centred on a potential initial public offering. That plan envisaged growing the fleet to 100 aircraft, but the carrier was unable to pursue it, with downsizing now a realistic option as part of its restructuring.
"Operating conditions have changed significantly since then. Demand and revenue growth have slowed, geopolitical events in Ukraine and the Middle East have increased uncertainty and operating costs, while the ongoing constraints on the availability of Pratt & Whitney engines have impacted the airline's ability to fully utilise its entire fleet," the carrier said.
airBaltic said in May that no A220-300s had been grounded by PW1100G-related issues during the first quarter of 2026, compared with an average of 13 a year earlier.
The carrier did not disclose how it intends to remove around eighteen A220-300s by year-end or how the revised fleet plan will affect its outstanding commitments to Airbus. ch-aviation data shows it has pending orders for 40 units of the type.
Network plans
The downscaled fleet will support a more concentrated network out of Riga, though airBaltic will maintain select point-to-point services from other bases. As a result, scheduled capacity is expected to decline from around 9.6 billion available seat kilometres in 2026 to 8.7 billion in 2027, before recovering to around 10.5 billion in 2031.
airBaltic also plans to expand year-round ACMI business to improve aircraft utilisation and reduce the seasonal imbalance between summer and winter operations. It currently has a 21-aircraft ACMI deal with the Lufthansa Group until 2028.
As it faces growing liquidity pressures and pursues a recapitalisation, airBaltic is seeking EUR225 million euros (USD259.2 million) in interim financing and proposes to raise up to a further EUR225 million in debt and EUR100 million euros (USD115.2 million) in new equity, alongside restructuring its existing 2029 senior secured notes. It will also implement fleet, network, and other efficiency measures to save about EUR45 million euros (USD51.9 million) annually.
airBaltic exclusively operates the A220-300, according to ch-aviation data, and flies to 86 destinations across 38 countries. It wet leases its regional jets to Air Serbia, Austrian Airlines, Brussels Airlines, Lufthansa, and Swiss.
