newstodate.aero
Jan 30, 2018 (newstodate): Despite earlier intentions, the Latvian carrier airBaltic does not seem any closer to finding a new ownership structure.
The Baltic state thus still holds 80 percent of the stake in the carrier that was expected to announce the final outcome of the year-long search for a strategic partner, investor and co-owner before the end of 2017.
-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 earlier told newstodate.
-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.
But 2017 ended without an announcement of a new strategic investor or other changes in the ownership structure.
Instead, speaking to a Latvian TV channel, the country's prime minister said that talks with global carriers all ended without result as they either would buy only to block against competitors, or use airBaltic as a small local subsidiary to their own purposes.
airBaltic's business plan Horizon 2021 provides for injection of additional capital to the amount of 50 million euro, but the airline has pledged not to request further investments from the state, leaving the issue of a new strategic investor open and unsolved.
The Baltic state thus still holds 80 percent of the stake in the carrier that was expected to announce the final outcome of the year-long search for a strategic partner, investor and co-owner before the end of 2017.
-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 earlier told newstodate.
-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.
But 2017 ended without an announcement of a new strategic investor or other changes in the ownership structure.
Instead, speaking to a Latvian TV channel, the country's prime minister said that talks with global carriers all ended without result as they either would buy only to block against competitors, or use airBaltic as a small local subsidiary to their own purposes.
airBaltic's business plan Horizon 2021 provides for injection of additional capital to the amount of 50 million euro, but the airline has pledged not to request further investments from the state, leaving the issue of a new strategic investor open and unsolved.