Estonian Prime Minister Kristen Michal has ruled out investing in airBaltic despite calls for regional support from Latvia.
Latvia’s transport minister, Atis Švinka, stated that airBaltic is preparing for an IPO but faces unfavourable market conditions.
The Latvian state currently owns a 97.97pc stake in airBaltic, which reported a net loss of €118.2m for 2024.
The airline has recently changed its chief executive following the financial difficulties and has secured a €14m investment from Lufthansa Group.
airBaltic operates fifty A220-300s, with an additional forty on order, and is wet-leasing 17 aircraft to several European carriers: three to Swiss, six to Lufthansa, five to Brussels Airlines, and three to Austrian Airlines.
