Latvia may give up controlling stake in airBaltic

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Latvia may give up a controlling stake in the national flag carrier airBaltic, which aims to secure a strategic investor by year-end, the airline's CEO Martin Gauss suggested to Bloomberg

As reported by LSM, more than 40 potential investors have been offered to buy parts of airBaltic with Latvia's Transport Minister Uldis Augulis saying just two weeks ago that Latvia still wants to retain more than 50% of airBaltic shares, i.e. a controlling stake.

However Martin Gauss suggested to Bloomberg that now “nothing is ruled out” in terms of a deal. He added that the focus of the sale will be on securing a shareholder that’s able to help AirBaltic develop its business rather than simply provide a financial injection.

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.  

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