Latvian Prime Minister Andris Kulbergs announced that he received a written proposal from a potential strategic investor for the national airline airBaltic. According to him, the government is currently negotiating with three possible investors.
The head of government announced the meeting with one of the potential investors on social media. According to Kulbergs, the investor presented a concrete proposal for investment and participation in stabilizing the airline's situation.
The Prime Minister noted that the document will be reviewed without delay. Later, he also discussed the situation surrounding airBaltic with the President of Latvia, Edgars Rinkēvičs, public media reported.
According to Kulbergs, negotiations are currently underway with three potential strategic investors. He criticized the previous management of the airline and the consultant Seabury, stating that they had previously rejected or ignored proposals from potential investors, in his opinion.
At the same time, the government is awaiting the final version of the company's business plan. The Prime Minister reminded that this document should serve as the basis for further decisions regarding the future of the airline.
AirBaltic itself confirmed that the business plan was submitted to government representatives on June 15. As explained by the company's press secretary, Augusts Zilberts, the document continued to be refined due to its large volume and complexity. The airline is now preparing to implement the measures outlined in it, although the details of the plan remain confidential.
The chairman of the airBaltic board, Andris Martins, stated that the development strategy has already been prepared. The company now needs to obtain the required conclusions from the sectoral ministry and coordinating body as stipulated by law. He also emphasized that the airline is ready to negotiate with any potential investors.
The issue of attracting capital remains one of the key challenges for airBaltic. According to estimates, the airline may need up to 150 million euros in additional financing by the end of the year.
The coming weeks could be decisive for the future of the national airline. It is after reviewing the business plan and proposals from potential investors that the government should determine the further development strategy of the company.
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