The Latvian airline AirBaltic will not, after all, be launching flights from Liège Airport to the Canary Islands starting in late October. AirBaltic cites insufficient demand, combined with financial difficulties due to rising fuel costs, as the reason for the cancellation. This is a blow to Liège Airport, as the airport had not had a single passenger flight since TUIfly’s departure in January.
Initially, AirBaltic planned to fly from Liège to Gran Canaria and Tenerife four times a week as part of a broader winter expansion involving twelve new routes across Europe. But earlier this month, there were already signs that things weren’t going as planned, as AirBaltic suddenly cut the announced frequency in half, to one flight per destination per week.
From four to two, and finally zero flights per week
The reason? Insufficient demand, combined with the airline’s financial difficulties due to rising fuel costs. Due to lower-than-expected bookings, AirBaltic is now discontinuing these routes entirely. All passengers who had already booked a seat have been notified and offered a refund.
AirBaltic says it regularly assesses whether its network is commercially viable and meets passenger demand. Based on such an analysis, the direct flights between Liège and the Canary Islands have also been canceled.
Losses are piling up
The real problem is certainly not limited to this issue alone: The Latvian airline is also grappling with broader financial difficulties, and when cost-cutting measures are implemented, new, unproven routes are simply the first to go.
In Q1, AirBaltic suffered a net loss of 70.1 million euros, despite an increase in revenue. What’s more, total losses since 2009 now amount to more than 620 million euros, due, among other things, to high lease obligations.
The US credit rating agency Fitch estimates the shortfall for the winter of 2026/27 at 100 to 150 million euros, about five times the amount of the loan currently on the table. Fitch cited “very weak financial flexibility and acute liquidity pressure,” meaning the company could become insolvent within six to twelve months unless someone writes a large check.
The Latvian government, which owns 88.37% of the shares, is therefore facing a critical decision regarding the future of the national airline.
Earlier this month, AirBaltic consequently announced a major reorganization plan to ensure its long-term viability. AirBaltic will focus its network more on its home base in Riga and reduce its fleet of A220-300 aircraft from 54 to 36 by the end of this year. The goal of 100 aircraft by 2030 is being replaced by a target of 40 by 2031.
Liège reacts with disappointment
Liège is therefore not the only victim of this broader round of cutbacks. Groningen Airport is also losing its planned weekly flight to Tenerife, and AirBaltic’s hub in Tenerife South is even set to close.
Other routes, such as Vilnius-Dubai, Tallinn-London Gatwick, and Vilnius-Berlin, are also being canceled or suspended. In Belgium, however, the Riga-Brussels and Tallinn-Brussels routes will remain in service.
Liège Airport spokesperson Christian Delcourt calls the decision “a major disappointment,” especially since TUIfly, the only passenger airline, had already left in early January. The arrival of AirBaltic represented “a glimmer of hope” and an “interesting restart of passenger operations at our terminal this coming winter, but now we’re left empty-handed.”
Liège Airport is first and foremost a cargo airport – the largest in Belgium. Nevertheless, AirBaltic’s cancellation also damages its reputation: two consecutive setbacks send the message that Liège has difficulty attracting or retaining airlines, which could make the market less attractive to other airlines.
Normally, it takes more than a year to set up new flights. There might be something again by summer 2027 at the earliest, though that seems very uncertain given the current situation.
