Latvia’s three-party coalition government remains stable, Prime Minister Evika Silina assured, LSM reports. Speaking in an interview with LTV, Silina said that the main issues facing the government included next year’s budget, tax reforms, funding for the Rail Baltica railway project, and the planned IPO of national air carrier airBaltic. However, the Prime Minister implied…
Latvia’s national air carrier, airBaltic, has signed a three-year wet lease agreement with Germany’s Lufthansa Group, LETA reports. Under the agreement, airBaltic will begin operating Lufthansa Group flights with up to 21 Airbus A220-300 aircraft in summer 2025. Previously, airBaltic has signed leasing agreements with Lufthansa Group companies, including SWISS and Discover Airlines. Meanwhile, media…
German airline Lufthansa may invest in Latvia’s national air carrier, airBaltic, according to Bloomberg, LETA reports. Sources said that negotiations on the deal were still at an early stage. Earlier, German news agency dpa cited Lufthansa’s CEO, Jens Ritter, who said that the company was interested in another airline operating its shorter routes, LSM reported….
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…
Estonia’s state-owned aviation group, Nordic Aviation Group (Nordica), posted an unaudited net loss of EUR 19.146mn in 2023, which was down from a profit of EUR 1.514mn in 2022, ERR reports. The company has failed to submit an audited annual report to the commercial register on time. Nordica’s annual revenue totalled EUR 107.266mn, which was…
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…
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…
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…