Latvian airline Air Baltic Corporation AS (airBaltic) was founded in 1995. Its primary shareholder is the Latvian state, which holds 97.97% of the stock, while the rest of the shareholders hold 2.03%. 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 airline offers low fare tickets in its network spanning Europe, Scandinavia, CIS and the Middle East. The prices are competitive not only with other airlines, but also with the prices of bus, car, train or ferry travel. Tickets are available not only for direct but also for transfer flights.

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