Augulis said that more than 40 potential investors have been offered to buy parts of airBaltic.
According to the minister, Latvia's government still wants to keep more than 50% of airBaltic shares. Furthermore the airline's potential investor is expected not to reduce the carrier's route network and to keep Riga International Airport as airBaltic's home base.
The Lazard Freres consultancy firm has been hired to find an investor. "The company has confirmed that [it will happen] by year-end, that they've promised there'll be a potential investor offer," said Augulis.
airBaltic is planning to renew its fleet by replacing its turboprop planes.
Latvia's government owns 80% of the company while the remaining 20% are owned by Danish businessman Lars Thuesen who bought it from German investor Ralph Dieter Montag Girmes.
