Story and image from Lufthansa Group
Wednesday, January 29, 2025 – Lufthansa Group has signed an agreement to receive a convertible share representing a 10 per cent stake of the Latvian state airline airBaltic which will be issued at a subscription price of 14 million euros. Additionally, Lufthansa Group will receive a seat in the airBaltic Supervisory Board.
The convertible share will be changed into ordinary shares upon a potential IPO of air Baltic. The size of the stake will be determined by market pricing of the potential IPO, with Lufthansa Group’s share amounting to no less than 5 per cent of airBaltic.
The transaction is building on the existing wet lease agreement between Lufthansa Group and airBaltic and intends to strengthen airBaltic’s role as a strategic partner of Lufthansa Group. Expanding this commercial cooperation allows Lufthansa Group to improve the quality of its network and to add additional markets. Additionally, a further product development of the wet lease services in line with our customer expectations is planned.
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