Currently, seeking investors for Latvia's national airline airBaltic is a more appropriate path than going public, admitted Finance Minister Arvils Aseradens during a speech on LTV.
It should be noted that for the sale of shares on the stock exchange under favorable conditions, the company must have impeccable financial performance. And airBaltic has problems with that.
In response to the question of what deadline airBaltic must meet to attract new funding in order for the company to continue operations, the finance minister said, "It seems this is a question for the first half of the year, and we need to hope that it will happen."
He believes that the new head of airBaltic, Erno Hilden, appears convincing, pragmatic, and realistic, and that the company currently has a mandate to seek investors and is working on it.
Currently, the state of Latvia owns 88.37% of airBaltic shares, Lufthansa owns 10%, and the rest are held by minor shareholders.
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