U.S., Dec. 6 -- airBaltic was selected for its strong return to growth and profitability after emerging from a challenging restructuring period. Annual passenger numbers, essentially unchanged at 2.6 million between 2008 and 2015, look set to reach five million in 2019, a near doubling in four years. Revenues have enjoyed similar growth.

airBaltic's restructuring years and the 2016 minority investment from a private investor have helped to secure its turnaround and renewed profitable growth. This has been supported by its decision to buy the Airbus A220-300 and eventually to replace all its Boeing 737s and Bombardier Dash-8s with the new aircraft.

airBaltic made six consecutive years of positive net profits by 2018. CEO Martin Gauss has...