newstodate.aero
Feb08, 2019 (newstodate): The Latvian carrier airBaltic is making a fresh effort to monitor the market for potential new investors in the airline.
airBaltic has thus mandated the global investment bank Greenhill to evaluate financing options for the future development of the airline, including the search for a potential new investor.
-In order to follow the growth strategy outlined in our Destination 2025 business plan, airBaltic requires additional financing for the future development of the company, the company says in a statement.
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.
At a press conference in Riga on December 1, 2016, the carrier's CEO said that the process would be completed "most probably already during 2017" with the assistance of the French company Lazard Freres as its financial adviser to attract potential investors.
But already in August 2012, the Latvian state launched a tender for attracting non-binding expressions of interest by November 1, 2012, for a stake of up to 50 percent minus one share - an effort that ended without results.
Today, the Latvian state still holds 80 percent of the shares, with the remaining 20 percent since April 2017 in the hands of Danish investor Lars Thuesen, who bought the company Aircraft Leasing 1 SIA, registered in Latvia on December 8, 2014, though which the investor Ralf Dieter Montag Girmes had held 20 percent of the stake in airBaltic since February 2016.
airBaltic has thus mandated the global investment bank Greenhill to evaluate financing options for the future development of the airline, including the search for a potential new investor.
-In order to follow the growth strategy outlined in our Destination 2025 business plan, airBaltic requires additional financing for the future development of the company, the company says in a statement.
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.
At a press conference in Riga on December 1, 2016, the carrier's CEO said that the process would be completed "most probably already during 2017" with the assistance of the French company Lazard Freres as its financial adviser to attract potential investors.
But already in August 2012, the Latvian state launched a tender for attracting non-binding expressions of interest by November 1, 2012, for a stake of up to 50 percent minus one share - an effort that ended without results.
Today, the Latvian state still holds 80 percent of the shares, with the remaining 20 percent since April 2017 in the hands of Danish investor Lars Thuesen, who bought the company Aircraft Leasing 1 SIA, registered in Latvia on December 8, 2014, though which the investor Ralf Dieter Montag Girmes had held 20 percent of the stake in airBaltic since February 2016.