Lithuania is found to be lacking in information for airBaltic equity discussions with Latvia, as reported by the country's minister.
As the negotiations between Lithuania and Latvia regarding the acquisition of airBaltic shares continue, Lithuania's Transport Minister, Eugenijus Sabutis, is awaiting more detailed information on airBaltic's financial condition and governance structure before making a commitment.
The Latvian government, along with the Lufthansa Group, recently invested EUR 14 million each in airBaltic to maintain strategic control and support the airline's financial stability ahead of a planned Initial Public Offering (IPO). However, the offer from Latvia, as well as its contents, remains confidential due to mutual agreements.
Sabutis received the initial proposal directly from Latvia's transport minister, but due to a request for confidentiality, he cannot disclose the contents of the offer. Estonia's Infrastructure Minister, Kuldar Leis, has reported that Estonia was offered a stake of up to 10% for 14 million euros. However, no public confirmation has been made about whether the contents of the offer made to Estonia match the one offered to Lithuania.
Lithuania's state-owned operator of its three international airports, Lietuvos Oro Uostai (LTOU), is currently assessing the offer. LTOU and airBaltic colleagues in Latvia have been tasked with presenting Lithuania's position on the situation.
The insufficiency of the offer is due to a lack of financial and other information about airBaltic. Sabutis expects to receive more information from airBaltic and hopes for a small step forward in the negotiations.
The discussions about Lithuania's participation are part of a wider, gradual process involving all Baltic partners and linked to preparation for airBaltic's possible primary market offering in late 2025 or 2026. Estonia declined to invest, signaling the importance of airBaltic's connectivity for Lithuania.
As of late August 2025, Lithuania has not yet finalized a decision to purchase airBaltic shares but is actively continuing discussions and conducting further studies on potential participation. Sabutis has made it clear that the first thing Lithuania needs is normal financial and other relevant information about airBaltic.
The Latvian Transport Ministry has made identical offers to acquire airBaltic shares to both Lithuania and Estonia. The same offer, on the same terms, was also made to Lufthansa. The offer from Latvia is insufficient according to Sabutis, but he remains hopeful for a positive outcome in the negotiations.
In conclusion, Lithuania is in a consultative and evaluative phase, requiring more comprehensive information before deciding on acquiring airBaltic shares. The negotiations are ongoing, with hopes for a small step forward.
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