The shareholders of Latvia`s national airline airBaltic Corporation have announced the appointment of Jens Helm¿ Larsen as the President and Chief Executive Officer with immediate effect.

Mr. Larsen (53) is Danish, married, and has 3 children. He has Masters degree in Economics from the Copenhagen Business School.

Mr. Larsen has worked in the SAS Group since 1975 in various managerial positions at the head office and has been stationed abroad in Vienna, Madrid, Athens and Zurich. His position before coming to Latvia was head of all domestic SAS routes in Denmark, including the routes between Denmark and Greenland.

Since October 1999, Mr. Larsen has been a member of airBaltic`s Executive Management as Senior Vice President Marketing, Sales and Ground Operations.

Jens Helm¿ Larsen currently is a Member of the Boards of the Baltic Cargo Centre and Greeenland Air.

Jens Helm¿ Larsen commented on his appointment, “Having worked at airBaltic, I have seen us already achieve success with our operating result in 2000 and have every confidence that we will reach a financial break-even this year. My aim is to continue the strategies already set in place and further develop airBaltic`s position in the Latvian business environment.”

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