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    Home » Latvian Minister of Transport: “Strategic Assets” to Luftansa Partnership Air Baltic

    Latvian Minister of Transport: “Strategic Assets” to Luftansa Partnership Air Baltic

    overthebordersBy overthebordersFebruary 14, 2025 Airline Incidents & Industry News No Comments5 Mins Read
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    The Latvian government aims to maintain at least 25% profits of Air Barth as the company prepares to open capital to investors, but to thrive, carriers will be forced to part of their independence. Accept that you may have to abandon.

    Speaking to Flightglobal on February 12, Latvian Minister of Transport Kaspars Briskens highlighted the benefits of Luftanza's recent agreement to take convertible shares with the airline ahead of a broader initial offer.

    “When talking about European aviation integration, I understand that Air Balth is clearly an exception than the rules in that it maintained its independence and its independence from the Air Alliance,” Briskens said. says.

    “But at the same time, of course, we understand the direction European aviation is heading.”

    He added that the IPO is hoping to attract a large number of investors, and that Lufthansa is adding “preventing nothing” to “replenish its holdings.”

    If Air Baltic chooses to expand and strengthen Latvia-Baltic connectivity, he says, partners such as Lufthansa, a cornerstone member of the Star Alliance, are “clearly strategic assets.” Masu.

    Kaspars Briskens-C-Air Baltic

    The government wants to hold a 25% stake, ensuring that Latvia is closely linked to the company, particularly due to its geographical position in the vicinity of Europe. Briskens notes that Latvia does not have high-speed rail connections and that air transport links are “an important factor.”

    “Even if the Air Baltic Sea is primarily owned by private investors, this will not change the strategic impact and importance that the Latvian government and the Latvian state have on this important company,” he said. says.

    The exact timing of the IPO that has already been pushed back has not yet been determined.

    “From a practical standpoint, all the work is already done,” says Briskens. “The investment bank is on board, consultants, preparations are underway.”

    He says the Air Baltic Management team is “actively involved” with potential investors, and the government wants to proceed “at the earliest window.”

    “Aviation is clearly very sensitive to a variety of macroeconomic and geopolitical factors. But whenever such market conditions are allowed, we will be ready to go.” Briskens said, adding that the IPO had at the end of the second quarter or “probably… towards the end of the year…”

    He says “patience” at the time, as the government wants to maximize the value of his career. Possible. “

    IPOs take place in a single shared class rather than in the four types of shared historically.

    Briskens said that completing the Luftansa Agreement was a “significant prerequisite” for the IPO, and these negotiations took several months.

    He describes the German airline (where Air Baltotic already has a wet lease agreement) as “a very expressible and very experienced partner.”

    “Because of this existence of Lufthansa, Airbalt's knowledge of Lufthansa is very important,” he adds. “I think this will also give us the opportunity to grow together in the future.”

    Air Baltic 50th A220-C-Air Baltic

    Air Baltic has newly introduced the 50th Airbus A220, providing maintenance services and flight training capabilities. Lufthansa Freight opened Riga Connection last year.

    Briskens believes that the Air Baltic tribe will offer Lufthansa qualities, including punctuality, innovation and operational excellence, and the possibility of developing other areas of cooperation besides wet lease placement.

    While Air Baltic has to address the Pratt & Whitney engine issues, in situations where they are forced to cut their schedule this summer, Briskens doesn't expect this to affect the IPO.

    “I think aviation investors are already priced risk,” he says.

    The engine is “great,” he adds, but acknowledges a permanent failure. “We know that this problem won't go away tomorrow,” says Briskens, but he discusses with Pratt and Whitney, “assuring they're doing their best to resolve the situation.” I got it.”

    “We're very transparent about this,” he said, and Eare Barth was “candid” about it.

    As neighboring Estonia wrestled with the future of state-owned career Nordica and considered selling, the 2023 national auditor said the government had adequate aviation operations, particularly given the competitive environment and rules regarding state aid. It said it cannot be owned.

    “I think we went quite far in that we don't allow political interference in (Air Baltotic) operational issues,” says Briskens. “Everyone understands this is a competitive industry, it is a very specialized and knowledge-intensive industry.

    “Because Latvia is a shareholder in the Air Baltic Sea, I think the company had operational autonomy to pursue its development. Of course, it would fall into expansion and invest in new aircraft, so new capital would be required. is necessary.”

    Air Baltic 50th A220 Airborne-C-Air Baltic

    As part of the lead-up to the IPO, a new committee of supervisory services was appointed on February 11th, with the selection of investment manager Andrejs Martinovs and aviation specialist Lars Mydland joining Lars Thuesen.

    “These are individuals who have the skills necessary to bring the Air Baltic Sea to the next stage of this development,” says Briskens, who is himself a former member of the airline's board of supervision. Masu.

    With their activities in Tallinn and Vilnius complementing the people of Riga, Air Baltotic is already the de facto carrier of the Baltic countries.

    The airline transported 8.3 million passengers last year – wet leases included – 5.2 million at its own base, compared to Latvia's total population of 1.9 million. Briskens says this indicates that countries in the aviation sector are “a lot more than the heavyweight class.”

    There is no immediate indication that either the Estonian or Lithuanian government will participate in the IPO.

    “There was some debate about potential participation,” he says. “This is not something we are discussing very actively, but certainly every opportunity is there for all (Lithuanian or Estonian) organizations to participate.

    “However, no matter what happens, we will maintain our commitment to our activities at Vilnius and Tallinn. These are the central foundations of the Air Baltic, and a significant portion of the Baltic passengers (these cities) It's coming from.



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