The convertible share represents a 10 per cent stake in airBaltic and will be issued at a subscription price of 14 million euros, which will then be changed into ordinary shares following a potential IPO of the airline.
The transaction is expected to close in the second quarter of 2025, along with further product development of the wet lease services. Recently, the wet lease agreement between the companies was extended for an additional three years following the summer of 2025, with the possibility to deploy up to 21 additional A220-300s in the summer and five in the winter across Lufthansa Group’s hubs.
Following the agreement, airBaltic will be able to increase capacity on routes with high demand and enhance the quality and stability of its connections to Lufthansa Group Arline’s intercontinental services.
Photo: airBaltic