Latvian airline Air Baltic Corporation AS (airBaltic) was founded in 1995. Its primary shareholder is the Latvian state, which holds 96.14% of the stock, while Lars Thuesen holds 3.86% through his fully-owned Aircraft Leasing 1 SIA. airBaltic is a hybrid airline taking the best practices both from traditional network airlines and low cost carriers.
In 2008, airBaltic changed its operating model from a point-to-point carrier to a network airline making Riga a connecting hub.

The top priorities of airBaltic are – safety, punctuality and service.

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