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It's a very smart/tidy move. The oncoming CS300s will allow Air Baltic to retire/return the 737-300s (7 in fleet) and 737-500s (5 in fleet), with newer, more efficient aircraft.
It would, in some cases be a slight reduction in capacity - however the CS300s will enable a completely different operation, and also - the CS300 will be optimized as a CS-500 if Bombardier moves in that direction.
Of note, this will produce an all Bombardier fleet (12 Dash8s, and 20 CS300s).
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