The new strategic investor in Latvia’s national air carrier, airBaltic, will be “a big positive surprise,” CEO Martin Gauss stated, LSM reports. He said that the identity of the investor would indicate that airBaltic was “recognised internationally as a serious airline.” Also, the investor would welcome the continued shareholding of the Latvian state in the…
The Latvian government has decided to launch an initial public offering (IPO) of shares in the state-owned national air carrier, airBaltic, by the end of 2024, ERR reports. Transport Minister Kaspars Briskens said that the IPO would proceed concurrently with talks with a new strategic investor, LSM reported. He said that the state only planned…
A strategic investor has shown interest in Latvia’s national air carrier, airBaltic, Transport Minister Kaspars Briskens revealed, LETA reports. He suggested that the investor could acquire a minority stake in airBaltic before the company’s possible IPO. Briskens refused to disclose the name of the potential investor. No talks are currently under way with Estonia or…
Latvia’s Riga International Airport (RIX) served 3.2mn passengers in the first half of 2024, which was 4% more than in the same period of 2023, LSM reports. The number of passengers now exceeds the pre-pandemic indicators. RIX accounted for 40% of the total number of passengers and 38% of flights served at all Baltic airports…
Airports Council International (ACI) has announced Estonia’s Tallinn Airport as the best European airport in the category of airports with 2-5 million passengers in 2023, BNS reports. At the same time, ACI awarded Tallinn Airport for being the most enjoyable, easiest, and cleanest airport in Europe. ACI has awarded Tallinn Airport for high-quality services six…
Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will…
Latvian Defence Minister Andris Spruds has welcomed the NATO Baltic Air Policing mission to Latvia in a ceremony at the Lielvarde Air Base of the Latvian National Armed Forces (NBS), LSM reports. Latvia will host the mission for the next nine months during major reconstruction at Estonia’s Ämari Air Base. The mission’s other base at…
Latvia’s state-owned Riga International Airport (RIX) made a profit of EUR 1.6mn in 2023, which was up 4.6 times from a year earlier, LSM reported. The company’s net turnover rose by around 25% to EUR 72.5mn. Revenues from aviation services amounted to EUR 36.7mn (up 18%) and from non-aviation services to EUR 21.2mn (up 38%)….
The Estonian government has decided to sell the state’s entire stake in Nordic Aviation Group (NAG), operator of national air carrier Nordica, due to the company’s unprofitability and lack of strategic value, BNS reported. Nordica stopped offering flights from Tallinn in 2019 and now primarily provides subcontracting services. The government expects binding offers for the…
