Lufthansa Group is strengthening its partnership with airBaltic.
Lufthansa Group will acquire convertible bonds equivalent to 10% of airBaltic’s shares for 14 million euros and secure a seat on the supervisory board. airBaltic plans to go public, which is expected to convert the bonds into ordinary shares. Following antitrust review, the transaction is expected to be completed in the second quarter.
Based on the existing wet lease agreement, it is considered an investment in the stability and flexibility of the group’s network. The contract will be extended for another three years from this summer, with a wet lease operation of up to 21 Airbus A220-300 aircraft in the summer and 5 in the winter.
airBaltic is the largest national airline of Latvia. It owns 50 Airbus A220 aircraft and has been partnering with Lufthansa Group since 2019.
