Danish businessman buys into airBaltic

Take note – story published 7 years ago

Danish businessman Lars Thuesen has bought a 20% stake in Latvia's national airline, airBaltic, the company said April 7.

The deal had been rumored for some time, and sees Thuesen take over the 20% holding bought just over a year ago by German investor Ralph Dieter Montag Girmes.

"airBaltic has been notified by the Danish investor Lars Thuesen that formalities have been completed to acquire 20 percent stake in Latvian national airline airBaltic that was held by German investor Ralf-Dieter Montag-Girmes. As a result, Lars Thuesen has become 100% owner of Aircraft Leasing 1 SIA on 6 April 2017," the company said in a brief statement.

Aircraft Leasing 1 SIA is the investment vehicle that is the holder of 20% shares of airBaltic. The value of the deal was not disclosed.

Montag Girmes bought into airBaltic just over a year ago.

As previously reported by LSM, Theusen has a wide portfolio including companies in both Denmark and the UK spanning robotics to beer.

An individual by the name of Lars Thuesen has been involved in the past with Scandinavian airline SAS (itself a former airBaltic shareholder), and British company Airtours, and is currently on the boards of Danish charter airline Jet Time and as director of Basisbank.

According to the Danish press, Basisbank was in a perilous position in 2015 but managed to attract a large investment from private sources to allow it to continue in business.

According to his LinkedIn profile, his other interests include a robotics company in Macclesfield, England (British company records list his correspondence address near Macclesfield) and a brewery in Denmark. 

British company records show 1956-born Thuesen was previously linked with more than 30 other British-registered companies, though most are now dissolved. He remains a partner of Brookfield Media, a Limited Liability Partnership involved with acquiring film rights.

He also made headlines in the UK by walking away with a massive payoff despite steering the Airtours company towards collapse.


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