![[Image: Airbaltic-logo.png]](https://upload.wikimedia.org/wikipedia/commons/7/79/Airbaltic-logo.png){kind=logo}
Ministry of Transport, Republic of Latvia has decided to sell its 80% share in airBaltic to Lars Thuesen's Aircraft Leasing 1 SIA. The decision was taken by the Ministry after airBaltic incurred $40 million of loans, was unable to cope with its increasing weekly leasing costs and no possible plan was reached to stabilise the financial situation of the airline. airBaltic would remain the flag carrier of Republic of Latvia. Martin Gauss would remain the CEO of the airline. All ongoing codeshares would remain in-effect until further notice by the partners.