EXCLUSIVE: Latvia in talks with strategic investor for ailing airBaltic, PM says

EXCLUSIVE: Latvia in talks with strategic investor for ailing airBaltic, PM says details Latvia’s effort to prevent financial collapse at the state-controlled airline airBaltic. Prime Minister Andris Kulbergs told Reuters that the Latvian government is negotiating with an unnamed strategic investor as the carrier seeks short-term financing and aims to avert a potential default. The talks are scheduled ahead of an August 3 meeting, where airBaltic—holding a minority stake for Germany’s Lufthansa—plans to seek short-term funding from bondholders. Kulbergs said a key condition would be maintaining the hub at Riga airport, where airBaltic is the largest airline. Fitch Ratings flagged a €30 million ($34 million) short-term loan from the Latvian government due in August, plus the failure in June to replenish a reserve account tied to its 2029 notes. AirBaltic operates 55 Airbus A220-300 aircraft and targets nearly doubling by 2030, but has delayed a stock listing amid engine delivery delays.