Latvia’s national air carrier, airBaltic, may have to delay its planned initial public offering (IPO) until the first half of 2025 amid investor worries about the aviation industry’s profitability, CEO Martin Gauss said, traders.lt reports. The company plans to raise as much as EUR 300mn through the IPO planned for later in 2024, BNN Bloomberg reports….
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…
Estonia may need to raise its defence spending to 5% of GDP to implement NATO’s new defence plans, Defence Minister Hanno Pevkur stated, ERR reports. He said that Estonia clearly needed to acquire more capabilities, including air defence systems and equipment to deal with chemical and biological weapons. The money needed would amount to EUR…
Lithuania’s GDP growth will amount to 2.4% in 2024 and 2.6% in 2025, according to the International Monetary Fund’s (IMF) latest forecast, BNS reports. The country’s economic growth will be driven by the growth of real wages, public investments, and low inflation, the IMF report states. Average annual inflation will reach 1.2% in 2024, the…
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…
Estonia’s three ruling parties are likely to draw up a new coalition agreement by 19 July 2024, the Estonian Reform Party’s candidate for prime minister, Kristen Michal, stated, ERR reports. He said that the three parties had already agreed on the majority of the text in the most important policy areas: competitiveness, growth, public finances,…
The Lithuanian government has granted special status to German arms manufacturer Rheinmetall’s planned artillery ammunition plant in Radviliskis district, BNS reports. The designation allows the company to begin construction of the plant without the standard construction permits, which must be obtained before completion. The plant, which will be named the Lithuanian Centre of Excellence for…
The Lithuanian government plans to invest around EUR 17.56mn in counter-mobility measures over 2024-2027, the Ministry of Defence announced, BNS reports. The plan is to deploy counter-mobility defence installations along the border with Belarus and Russia’s Kaliningrad (Königsberg) region by April 2025, reserve barriers on major national roads and bridges by November 2025, and drainage…
Czech company Skoda Vagonka pledges to deliver the remaining seven new electric trains to Latvia by the end of July 2024, LETA reports. The company assured that production was proceeding on schedule. Latvian passenger train operator Pasazieru Vilciens (Vivi) has so far received 25 of the 32 new electric trains ordered from Skoda Vagonka. Vivi…