newstodate.aero
Feb 08, 2019 (newstodate): The Latvian carrier airBaltic is presumably deep into the process of monitoring the market for potential new investors in the airline.
In the meantime, no news has emerged on this issue after airBaltic in September 2018 mandated the US-headquartered 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 said in an earlier statement.
And airBaltic will indeed need a strategic investor to support its rapid growth with a fleet of up to 80 Airbus A220-300 aircraft, and to bolster the financial stability in future economic contractions.
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.
These efforts, however, ended without results.
But already in August 2012, the Latvian state launched a tender for attracting non-binding expressions of interest for a stake of up to 50 percent minus one share - an effort that also produced no 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.
In the meantime, no news has emerged on this issue after airBaltic in September 2018 mandated the US-headquartered 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 said in an earlier statement.
And airBaltic will indeed need a strategic investor to support its rapid growth with a fleet of up to 80 Airbus A220-300 aircraft, and to bolster the financial stability in future economic contractions.
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.
These efforts, however, ended without results.
But already in August 2012, the Latvian state launched a tender for attracting non-binding expressions of interest for a stake of up to 50 percent minus one share - an effort that also produced no 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.