Briškens: Investor interested in Latvian airBaltic shares

A strategic investor has shown interest in the shares of the Latvian national airline airBaltic ahead of a potential initial public offering (IPO), Transport Minister Kaspars Briškens (Progressives) said at a press conference after Tuesday's government meeting, without disclosing the name of the investor.
According to Briškens, this is good news, as the investor could take a minority stake in airBaltic's capital and then move towards an IPO together.

The Minister said that in this case only the state's shares in airBaltic are at stake, and it is important to agree on the most favorable conditions for both parties. "In our case - more favorable conditions for the Latvian side," said the Minister.

Briškens said that he could not disclose the exact amount of shares being negotiated at the moment, but there is talk of a minority stake. "At the same time, we are assessing the possibility of going to an IPO together with this investor, where potentially this investor can use the opportunity to increase its stake in the company," the minister said.

As regards the public interest shown by Lithuania and Estonia in airBaltic shares, the Minister noted that no bilateral or trilateral negotiations with these partners are currently underway. "In any case, this IPO gives an opportunity to any investor, both public and private, investment funds and others, to get involved in this process and buy shares," the Minister said.

Earlier, airBaltic CEO Martin Gauss told LETA in an interview that the earliest a decision could be made on the IPO is in the second half of this year.

The Latvian State owns 97.97% of airBaltic shares, while the financial investor, Danish businessman Lars Thuesen's company Aircraft Leasing 1 – 2.03%.

Source: Press release (LETA)
Photo: Kārlis Miksons / Latvijas Televīzija