Ryanair to double Baltic passengers in five years amid airBaltic's bankruptcy

Investing.com -- Ryanair announced on Thursday plans to double its passenger numbers in the Baltic region over the next five years, taking advantage of airBaltic's reduced operations and bankruptcy filing.

Europe's largest airline by passenger numbers said it aims to provide 11 million annual seats across Latvia, Estonia and Lithuania by 2031. The carrier will base 16 aircraft in the region, up from seven currently.

The expansion follows airBaltic's bankruptcy filing earlier this week, making the Latvian carrier the first European airline to seek bankruptcy protection due to fallout from the Iran conflict.

"This proposal is even more important following airBaltic's announcement that it will shrink its fleet by one-third," Ryanair Chief Commercial Officer Jason McGuinness said in a statement.

AirBaltic announced in August it would reduce its fleet to 36 aircraft by the end of 2026 from 54, with a target of about 40 aircraft by 2031. This represents a sharp reduction from its previous goal of 100 aircraft.

The Irish carrier's Baltic expansion is part of a broader strategy to increase annual passenger traffic to 300 million by 2034 from 208 million in the year to end-March 2026. The airline will take delivery of 300 Boeing 737 MAX 10 aircraft starting in 2027.

Ryanair will add winter flights on 10 Riga routes to destinations including Milan, Alicante and Barcelona following a reduction in airport charges. The airline will cut winter capacity by 25% in Lithuania and Estonia due to increased airport charges and move that capacity to Slovakia, Poland, Italy, and Sweden.

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