Riga (dpa -AfX) – Lufthansa is in the Latvian airline Airbaltic. For 14 million euros, the Lufthansa Group takes over a share of ten percent in the form of changing shares, as the two companies announced. An agreement was signed together with the Latvian Ministry of Transport. In addition, Lufthansa receives a seat on the Supervisory Board of the Latvian state -owned company, which has been managed by German manager Martin Gauss since 2011.
According to the information, the participation is based on the cooperation that has existed for several years, in which Lufthansa rents aircraft and crews from Airbaltic in the so-called wet lease process. With the transaction, the Lufthansa Group can improve the quality of its route network and open up additional markets, the statement said.
Airbaltic, based in Riga, is the largest airline in the Baltic States. It flies more than 70 destinations from her Riga hub and uses a unit fleet of 50 Airbus (Airbus SE (Ex EADS)) A220. The Latvian airline has been preparing for a possible IPO for a long time, according to which the changing shares acquired by Lufthansa are to be converted into regular shares.
Latvia’s Prime Minister Evika Silina praised Lufthansa on platform X as a “internationally highly respected company in the aviation sector”. Their entry is a good springboard for the growth of Airbaltic and the procurement of additional capital. Transport Minister Kaspars Briskens described the participation as the “strong symbol of the flourishing economic relationships between Latvia and Germany” ./ AWE/DP/He
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