Western investor ready to finance airBaltic with EUR 50 mln

The Latvian national airline airBaltic has managed to attract a financial investor from Western Europe who is ready to invest about EUR 50 million in the company, reports LETA, according to Karlis Krastins, CEO of the investment banking and financial advisory company Prudentia.

A protocol of intentions has been signed so far. The investor's name cannot be revealed due to confidentiality reasons.

It is a "respectable European investor", who sees airBaltic's competitive capacity. The deal will be assisted by a respectable legal service company and audit company, as well as a bank from Latvia.

A total of EUR 120-130 million are to be invested by both the state and investor. The state could contribute about EUR 80 million.