“The content of what was sent to us was insufficient,” Transport Minister Eugenijus Sabutis told the radio Žinių Radijas. “Lithuanian Airports and our colleagues from airBaltic have now been tasked with presenting our position and obtaining more information. The first thing we need is proper financial and general data about the company.”
Sabutis said he received the initial offer directly from Latvia’s transport minister, but could not disclose its content due to confidentiality.
As previously reprted by LSM, it is understood that a similar offer consisting of a 10% stake in the company for around 14 million euros has also been made to Estonia and to German airline Luthansa, though the responses so far have been muted.
According to ERR News, Estonia’s government has rejected an offer from the Latvian Ministry of Transport to purchase a €14 million stake in Latvian airline airBaltic, citing EStonian Minister of Regional Affairs and Infrastructure Kuldar Leis.
“We received an offer from the Latvian Ministry of Transport to acquire up to a 10 percent stake in airBaltic for €14 million. The offer was the same for both Lithuania and Lufthansa. Lufthansa decided to acquire a stake. Estonia decided that while airBaltic is an important partner, Estonia will not acquire a stake in the airline,” said Leis.
Attempts to sell off all or part of airBaltic have been ongoing for years. The stated aim of the Latvian government is for an Initial Public Offering (IPO) of shares, with the state retaining a strategic controlling interest. However, despite numerous false starts, no date for an IPO has yet been named.
The airline is also in the middle of a process to find a new CEO following the dismissal of longtime boss Martin Gauss in April this year.
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