Latvia: Strategic investor may buy 10% of airBaltic’s shares

The Latvian state is negotiating with a well-known strategic investor on the possible acquisition of a 10% stake in the country’s national air carrier, airBaltic, according to LTV’s information, LSM reports. Klavs Vasks, chairman of airBaltic’s supervisory board, confirmed that the unnamed strategic investor could acquire a minority stake in the company. In 2023, Prudentia valued airBaltic at around EUR 300mn. Vasks said that the airline planned to increase its fleet to 100 aircraft and to carry 12 million passengers by 2030. The company would thus have the world’s largest fleet of Airbus A220 aircraft, he noted. The share capital of airBaltic increased to EUR 596.5mn over 10 years, while the company’s accumulated losses amounted to EUR 685.9mn. The government has therefore reduced airBaltic’s share capital by EUR 571.3mn.