Menu

German investor buys 20% of airBaltic

  • Published by Ozgur Tore

air baltic aircraftThe Latvian Cabinet of Ministers has approved plans to sell 20% of airBaltic to German investor Ralf Dieter Montag-Girmes for EUR 52 million and agreed to invest a further EUR 80 million in the airline. The total of EUR 132 million of fresh capital for the Latvian carrier will spur its Horizon 2021 business plan and fleet modernisation.

Under the deal, the German investor will hold 20% of shares in the carrier. The remaining stake will be held by the Latvian government. Ralf Dieter Montag Girmes will invest EUR 52 million in A/S Air Baltic Corporation. The Latvian government will also invest EUR 80 million in the airline.

For the summer of 2015, airBaltic announced 14 new routes, the largest improvment in connectivity since restructuring and achieving profit.

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, Russia, CIS and the Middle East. In addition, airBaltic also offers new direct flights from Tallinn and Vilnius.

Advertisement

Destinations

Best of Greek Islands with Celestyal Cruises

Best of Greek Islands with Celestyal Cruises

In Summer 2016, I had chance to sail to Greek Islands with the Celestyal Cruises. In an organization with Karavan Cruises, travelers enjoyed best of Greek islands with Celestyal and received a compl...

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

Unique and Luxurious Vacation Destination in Turkey: Cappadocia

ftnNEWS would like to present you a unique vacation idea here in Turkey: Cappadocia Region. Located on the central Anatolia plateau within a volcanic landscape sculpted by erosion to form a successi...

Fascinating Tunisia

Fascinating Tunisia

Recently I have visited Tunisia as a familiarization trip organized by the Tunisia Tourism Ministry with the support of Tunis Air. Tunisia is not only a beach holiday destination. It also offers a r...