The investor agreement with the new airBaltic investor Ralf Dieter Montag-Girmes will be signed in January, as airBaltic prefers to close all matters related to its Bombardier CS300 order before signing.
Martin Gauss, Chief Executive Officer of airBaltic, said:
“We have achieved remarkable results for airBaltic in the past few years, and, with the new investment we can now focus on our expansion and consolidation in the Baltic region. The new equity will be used for investing into new aircraft rather then leasing them and thus giving airBaltic an advantage on the cost side, a vital element for our Horizon 2021 business plan.”
As informed previously the government has approved Mr. Montag-Girmes as the airBaltic investor. He committed to invest EUR 52 million in the airline.
airBaltic serves over 60 destinations from its home base in Riga, Latvia. From every one of these locations, airBaltic offers convenient connections via Riga to its network spanning Europe, Scandinavia, CIS and the Middle East. In addition, airBaltic also offers new direct flights from Tallinn and Vilnius.