The airline says it is also deepening ties with German airline Lufthansa to secure long-term growth.

Speaking to "Aktuaalne kaamera," airBaltic CEO Martin Gauss said: "We have today three airplanes, in summer four, planned here, but in our business plan when we go to 100 aircraft we foresee currently eight aircraft being based here.

Gauss added that airBaltic is expanding in Estonia, adding new routes and increasing flight frequency to improve travel convenience.

"We are setting up a branch; we have Estonian employees. This is out second strongest market in airBaltic after Latvia, and we will continue to grow in Estonia, yes," he said.

Gauss confirmed that airBaltic is on track to go public in the first half of the year, with necessary preparatory work already completed.

"We are in the preparation for potential IPO in 2025, first half year, that's what we say today. Important we had to close the pre-IPO investor which is Lufthansa; that is closed."

Gauss noted that the Latvian state has confirmed it will retain a 25 percent plus one share stake in the company.

"A lot of the items we had to do are behind us, and now we need to discuss with the banks, the advisers, what is the right time, then yes, we feel very positive, but confirming an IPO can only happen when we publicly announce the ITF, and that we have not done yet," he said.

As for Lufthansa's involvement, it is planned to get a 10-percent stake and one seat on the board, Gauss said, while the German carrier will also be able to utilize up to 21 of airBaltic's aircraft over the next three years.

"The plan is for the 10 percent shareholding that Lufthansa has one seat on the supervisory board; I think this is an important step for them. Also to look at this investment. And then, you're right, we have a contract with Lufthansa where provide up to 21 airplanes over the next three years, so that's the biggest part of that partnership," Gauss continued.

The Latvian state will retain a significant share in the renewed airBaltic, Gauss added.

"We also have the Latvian state confirming that they will maintain a shareholding of 25 percent plus one share," he noted.

An already existing codeshare agreement with Lufthansa will be expanded, he added. "On top of that we are a culture partner of Lufthansa, and we are expanding where possible also the codeshare partnership."

"We will continue adding routes and frequencies to ensure that Estonians can fly out early in the morning and come back in the evening. I think this is the big difference we will make," Gauss summed up.

airBaltic is in part likely to be taking on some of the connections with Tallinn lost with the winding-up of Estonian state-owned airline Nordica late last year, and the announcement that cut-price Irish carrier Ryanair will be reducing its routes.

Tallinn Airport itself posted a record year for passenger throughflow in 2024, at around 3.5 million.

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