Latvia: Government to privatise airBaltic “sooner or later”: PM

The Latvian government will have to relinquish its controlling stake in the national air carrier, airBaltic, “sooner or later,” Prime Minister Evika Silina said, LETA reports. The government wants airBaltic to operate more on market principles, she stated. If airBaltic’s planned IPO fails, the government will make a “separate decision” on the company’s future, Silina said, adding that it was important to ensure that airBaltic can attract new investment. Meanwhile, Transport Minister Kaspars Briskens said that negotiations were ongoing with a potential strategic investor on buying a minority stake in airBaltic before the planned IPO. In preparation for the IPO, airBaltic will reduce its share capital by EUR 571.293mn and simplify its share structure.