euroAtlantic Taps airBaltic Veteran for Aggressive Growth Phase

LISBON, Portugal – May 05, 2026 – euroAtlantic Airways (EAA) is embarking on a significant strategic acceleration, appointing aviation veteran Pauls Calitis as its new Chief Executive Officer, effective May 18, 2026. The move signals the next chapter in an aggressive turnaround and expansion plan orchestrated by majority owner Njord Partners, which acquired the Portuguese charter specialist in 2024.

Calitis, who most recently served as Chief Operating Officer and interim CEO at airBaltic, will succeed Stewart Higginson. Higginson, who has steered the airline since early 2024, will transition to the role of Non-Executive Chairman of the Board, ensuring leadership continuity as the company doubles down on its growth ambitions.

A New Era Under Private Equity Command

The leadership shuffle is the latest and most significant move in a comprehensive overhaul initiated by Njord Partners. The special situations investment firm took a majority stake in EAA in 2024, injecting vital capital into what was an underfunded carrier with a largely non-operational fleet in the wake of the pandemic. Njord's strategy focused on a rapid revitalization, aiming to expand the fleet, secure major contracts, and reclaim market share.

This strategy is formalized in the company's "New Era 2030" plan, which outlines a path to significant expansion. The plan calls for growing the fleet to at least eight aircraft by mid-2026 and reaching a minimum of 12 widebody aircraft by 2030. The appointment of Calitis is seen as a critical step to execute this vision, leveraging his deep operational expertise to manage this rapid scaling.

Since the acquisition, EAA has focused on rebuilding its management team, strengthening governance, and restoring confidence among lessors, clients, and financial institutions. The results have been tangible, with the airline reporting that its capacity for 2026 is already substantially committed and limited availability remains for 2027, indicating strong market demand for its services.

Importing the 'airBaltic Blueprint'

Pauls Calitis arrives at EAA with a formidable reputation forged over three decades in aviation, culminating in a transformative tenure at airBaltic. His career, which began as a pilot in 1995, provides him with a ground-up understanding of airline operations. At airBaltic, he was a central figure in its evolution into one of Europe's most efficient and modern carriers.

As COO, Calitis was instrumental in two areas directly relevant to EAA's ambitions: fleet modernization and ACMI business expansion. He successfully managed airBaltic's complex transition to an all-Airbus A220 fleet, a move lauded for its operational and cost efficiencies. Furthermore, he drove the expansion of the airline's ACMI (Aircraft, Crew, Maintenance, and Insurance) division, securing contracts to support Tier-1 European airlines and establishing a reputation for high-quality service delivery.

His leadership was further tested when he stepped in as interim CEO in 2025, navigating the Latvian carrier through a period of engine shortages, supply chain disruptions, and IPO delays. This experience in steering an airline through market volatility and operational crises makes him particularly well-suited to lead EAA's expansion amid current industry turbulence.

"Pauls brings with him an exceptional track record of operational and commercial leadership, underpinned by a people-first approach and a commitment to quality," said outgoing CEO Stewart Higginson. "His expertise in ACMI operations, coupled with his success in navigating industry challenges and fostering growth, makes him the ideal leader to continue EAA’s trajectory of success."

Doubling Down in a Turbulent Market

EAA's aggressive growth strategy is unfolding within a dynamic and often paradoxical global ACMI market. Demand for wet-leasing services has soared as airlines grapple with persistent new aircraft delivery delays from manufacturers and significant operational disruptions, such as the widespread groundings of aircraft due to Pratt & Whitney GTF engine issues. This has made ACMI a crucial tool for carriers needing to maintain capacity and protect market share.

However, this period of peak demand and high rates through 2023 and 2024 was followed by a "market reset" in 2025. With some airlines scrutinizing yields more closely, the market saw signs of overcapacity, leading to increased pricing flexibility and shorter-term contracts. This environment favors operators who can provide reliable, efficient, and cost-effective solutions.

It is in this context that EAA is making its boldest move yet: a plan to add two Airbus A330 aircraft in the second half of 2026. This represents a 100% growth in the company's fleet size in just over a year, a decisive bet on the continued strength of the widebody ACMI segment. By securing long-term contracts and pre-committing its 2026 capacity, EAA is positioning itself to ride out short-term pricing fluctuations and capitalize on the structural demand for flexible lift.

Forging a New Fleet Identity

The addition of the A330s is not just about scale; it marks a strategic evolution of EAA's fleet. Historically an operator of Boeing widebodies, including the B767 and B777, the company recently added its first Airbus aircraft, an A330-200 leased from AELF - Aircraft Engine Lease Finance. The two forthcoming A330s will solidify this transition to a dual Boeing and Airbus operator, diversifying its product offering for the long-haul market.

This fleet flexibility allows EAA to cater to a wider range of client needs, from passenger charters and government contracts to providing supplementary lift for major international airlines. The company already operates on behalf of carriers like LOT Polish Airlines and Azul Linhas Aéreas, demonstrating its ability to integrate seamlessly into the networks of discerning clients. The expanded A330 fleet will enhance its capacity to serve these demanding, high-utilization routes.

Incoming CEO Pauls Calitis acknowledged the company's momentum. "I am honored to join EuroAtlantic Airways at such an exciting time in its journey," he commented. "EAA has made tremendous strides in recent years, and I look forward to building on this momentum to further enhance the company’s operational excellence, customer focus, and market leadership in the ACMI and charter segments." With a proven operational leader at the controls and new widebody aircraft en route, euroAtlantic Airways is charting a decisive course to elevate its standing in the global aviation services market.