Lithuania might buy airBaltic shares in future

Lithuania is considering buying shares of the Latvian national airline airBaltic, Lithuanian Transport Minister Marius Skuodis announced on Tuesday, as reported by Lithuanian public media January 9.

“I have already had two conversations with the Latvian Transport Minister about the possibility for Lithuania acquiring a stake in airBaltic,” Skuodis was quoted.

The possible terms of the deal are currently under discussion.

It has already been reported that Latvian Transport Minister Kaspars Briškens (Progressives) predicted at the beginning of the year that the initial public offering (IPO) of airBaltic shares, if the process moves successfully, could take place in the second half of 2024 or at the end of the year.

The Lithuanian Transport Minister said airBaltic could become an airline of all three Baltic States in the future. Lithuania does not have a national airline.

airBaltic Group's turnover in 2022 was EUR 500.17 million, which is 2.5 times more than in 2021, while the company's losses decreased 2.5 times – to EUR 54.219 million, according to LETA's information.

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

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