Latvia’s government plans to retain just 25pc of its stake in airBaltic, plus one share, after an upcoming initial public offering (IPO) later this year.
The government aims to ensure that airBaltic’s main base remains at Riga Airport and that the airline continues to develop flight connections for Latvia and the Baltic states.
In addition to the IPO, the government is also negotiating with a strategic investor, although details about the investor’s identity and stake are not disclosed.
Despite posting a loss of €88m in the first half of 2024, airBaltic is optimistic about attracting investors due to its increasing revenue and passenger numbers, with 2.2m passengers and a 16.5pc revenue growth in the first six months of the year.
