airBatic's longtime chairman and CEO Martin Gauss told reporters: "I can only say again that international financial market regulations do not allow us to disclose details of a potential IPO. We will do this as soon as we can."
Predictably, Gauss then went to some lengths to talk up the current state of the company, which he described as the most successful and largest airline in the Baltic states even going so far as to predict that it would double in size over the next five years, according to the company's own predictions.
Though 526 million euros has been invested in airBaltic over its 29 year history by the Latvian taxpayer, it has paid back "more than 400 million euros" in taxes and interest, and in a wider context it contributes more than a billion euros per year to the Latvian economy as a GDP multiplier, he stated.
To fund its expansion "the airline will go to the international financial markets – and the local markets – to raise new equity and this will be done in the form of an IPO," said Gauss.
As regards the identity of the mystery "strategic investor" involved in talks over potentially taking a stake in the company, Gauss said:
"I read all these rumours around my name and about who could [the investor] be. We can't disclose today the discussions about the investor which the government announced. But what I can say: there will be a big surprise in the positiveness about that name because we as airBaltic after 29 years are recognized internationally as a serious airline."
The strategic investor would view the continued shareholding of the Latvian goverment in the company after an IPO in a positive light, he added later.
Transport Minister Kaspars Briškens (Progressives) reaffirmed the government's intention of retaining "at least 25 percent plus one share" of airBaltic stock and tried to reassure reporters that government communication about the deal would be more "proactive and detailed" in future to avoid misunderstandings – with this press conference a first example.
Briškens said the government retention of a significant stake in airBaltic would ensure it remained based in Latvia and would continue to provide jobs and pay taxes.
