January 30, 2025 08:04 GMT
TRANSPORTATION: Air Baltic; Lufthansa takes stake
TRANSPORTATION
(AIRBAL Sec. 29s; NR/B+/B) (98% Latvian Government owned)
(LHAGR Unsec; Baa3/BBB-/BBB-)
- Lufthansa will take the initial pre-IPO stake; 10% for €14m.
- It was always looking like the front-runner (extensive wet-lease agreements).
- The proceeds may look lacklustre re. capex needs and fleet expansion plans (wants to double from current 50 to 100 by 2029).
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