newstodate.aero
Dec 05, 2016 (newstodate): The Latvian airline airBaltic will most probably announce a strategic airline partner in 2017, changing the ownership structure of the company.
Today, the carrier is 80 percent owned by the Latvian state while a German investor took a 20 percent stake by the start of 2016 to infuse fresh capital into the airline.
-The state is determined to sell its majority stake in airBaltic, seeing the carrier's future better with a strategic airline partner that will allow us to develop our business potentials to the full, says Martin Gauss, airBaltic CEO and President.
-With a strategic partner, we will be in a position to do what what we do even better. We are seeing a strong movement of consolidation in the European aviation industry, and we have to position ourselves accordingly.
airBaltic has talked about a strategic partnership for several years already, but needed first to consolidate its financial performance and return to profitable operations before any viable partner might be attracted to involving itself with the airline.
This goal of obtaining profitability was achieved from 2013, and 2016 full-year results are expected to continue on a positive note as well.
Today, the carrier is 80 percent owned by the Latvian state while a German investor took a 20 percent stake by the start of 2016 to infuse fresh capital into the airline.
-The state is determined to sell its majority stake in airBaltic, seeing the carrier's future better with a strategic airline partner that will allow us to develop our business potentials to the full, says Martin Gauss, airBaltic CEO and President.
-With a strategic partner, we will be in a position to do what what we do even better. We are seeing a strong movement of consolidation in the European aviation industry, and we have to position ourselves accordingly.
airBaltic has talked about a strategic partnership for several years already, but needed first to consolidate its financial performance and return to profitable operations before any viable partner might be attracted to involving itself with the airline.
This goal of obtaining profitability was achieved from 2013, and 2016 full-year results are expected to continue on a positive note as well.