newstodate.aero
Dec 15, 2016 (newstodate): The Latvian carrier airBaltic is determined enter a strategic partner to secure its future consolidation and development.
In pursuit of this strategy, airBaltic has selected Lazard Fr�res as its financial adviser to attract potential investors in the carrier.
-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, Martin Gauss, airBaltic CEO and President, said at the press briefing on December 1, 2016.
Mr Gauss also expected the process to be completed most probably already during 2017.
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.
In pursuit of this strategy, airBaltic has selected Lazard Fr�res as its financial adviser to attract potential investors in the carrier.
-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, Martin Gauss, airBaltic CEO and President, said at the press briefing on December 1, 2016.
Mr Gauss also expected the process to be completed most probably already during 2017.
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.