Author: airBaltic.com
Source: airBaltic.com
The Ministry of Transport of Latvia, airBaltic, and Lufthansa Group announce the signing of an agreement for Lufthansa Group to invest EUR 14 million in airBaltic for a minority stake, and Supervisory Board seat.
In return for its investment, Lufthansa Group will receive a convertible share granting a 10% stake, which will be issued at a subscription price of EUR 14 million and converted into ordinary shares upon a potential IPO of airBaltic. After IPO, the size of Lufthansa Group’s stake will be determined by market pricing of the potential IPO, with Lufthansa Group’s holding amounting to no less than 5% of airBaltic.
The transaction builds on the existing strategic partnership between Lufthansa Group and airBaltic. Lufthansa Group will also appoint a Supervisory Board member upon closing of the investment. The closing of the transaction is planned for Q2 2025, and is subject to antitrust review.
The deal provides airBaltic with additional funding and supports its growth plans, which include the expansion of wet lease agreements, and recognizes airBaltic’s leading market position and unique hybrid business model.
The transaction strengthens Lufthansa Group’s role as a strategic partner of airBaltic.
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