PM Kulbergs: airBaltic discussions ongoing with three potential investors

"I hope that there will be one of them with whom we could jointly resolve our questions," said the prime minister, though he did not disclose further information about the possible investors. At the same time, Kulbergs said that airBaltic's financial burders should not be placed entirely on the shoulders of the state. "I believe that the state's share in it should be changed and minimized to a minimum," he said. "The state no longer needs to be involved in the aviation business. We have enough sad experience with state involvement in business," the Prime Minister pointed out. The turnover of the airBaltic Group last year, compared to 2024, increased by 4.2% and amounted to 779.344 million euros. The losses of the airBaltic Group last year were 44.337 million euros. The airline carried a total of 5.2 million passengers in 2025, which is 1% more than in 2024. As previously reported numerous times, over the years there has been continuous discussion of an eventual Initial Public Offering (IPO) of airBaltic shares, though preparations have rarely got very far before circumstances dictated a change of plan. Currently the government's intentions appear to be finding an investor or investors willing to take a large stake in the company without necessarily going down the IPO route. German national airline Lufthansa became a minority shareholder in airBaltic last year, acquiring 10% of airBaltic's shares. The Latvian state now owns 88.37% of airBaltic's shares, while Aircraft Leasing 1, owned by financial investor and Danish businessman Lars Theusen, owns 1.62%.