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Augulis: there are three possible airBaltic investors in consideration

Uldis Augulis/flickr.com/Saeima.
With the process to attract new investors for airBaltic coming closer to the finish line, three potential contenders are currently in consideration, said Latvian Transport Minister Uldis Augulis in an interview to Rīta panorama.

Augulis says Lazard Freres continues searching for a new investor for the second consecutive year. The process has entered the final phase. There are three possible candidates, and the government should make its choice before the end of the year.

According to Augulis, all submitted offers are good and interesting, which will benefit society and the national economy. He did not say which countries those potential investors come from. He only said that they are from all over the world.

He reminds that the main criteria for evaluation of the investor include making sure airBaltic and Riga airport are able to continue developing.

The minister notes that there is no rush with airBaltic’s sale. If the government does not find any of the candidates satisfactory, the selection process will be continued.

As previously reported, Latvian Transport Ministry is currently engaged in reviewing specific offers for attraction of investors for airBaltic. A full privatization of the company is not out of the question, says the ministry’s state secretary Kaspars Ozoliņš.

It should be added that airBaltic’s business plan Horizon 2021 includes attraction of additional capital worth EUR 50 million to ensure successful replacement of the existing fleet and improve the airline’s capital. The company has confirmed that it has no plans to turn to the state to ask for funding. Latvian government has made it a priority to find a strategic investor for the airline. The search for the investor is entrusted to Lazard Freres.


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