Ryanair Invests $1.6 Billion in Baltics, Capitalizing on airBaltic Bankruptcy

Ryanair Holdings (NASDAQ:RYAAY) proposed a $1.6 billion, five-year investment to expand operations in Estonia, Latvia, and Lithuania.

The airline aims to double regional passenger traffic to 11 million annual seats.

Ryanair plans to increase its based aircraft in the region from seven to 16.

This strategic move follows the recent Chapter 11 bankruptcy filing of Latvian carrier airBaltic.

The airline will grow winter capacity in Latvia by 6% due to reduced airport charges in Riga.

Ryanair will cut capacity in Estonia and Lithuania by 25% because of rising access costs.