Estonia also considers buying airBaltic stake

The Estonian state should consider buying shares in the Latvian national airline airBaltic, said Riivo Tuvike, Chairman of the board of the Estonian state airport Tallinna Lennujaam, on Wednesday, reports Estonian public media ERR.

In an interview with Estonian public broadcaster ERR, Tuvike said that opportunities to buy shares in airBaltic would depend on price and benefits, however, he would suggest at least considering it. 

airBaltic has the largest market share in Estonian air passenger transport, so the acquisition of the company's shares would link it more closely with Tallinn and allow it to encourage the company to expand its activities in the Estonian capital.

It has already been reported that Lithuania is considering buying shares of the Latvian national airline airBaltic, according to Lithuanian Transport Minister Marius Skuodis.

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.

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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