Latvian carrier airBaltic has announced it will be postponing a planned initial public offering (IPO), citing unsuitable market conditions.
Speaking to “Aktuaalne kaamera,” airBaltic CFO Vitolds Jakovlevs said: “We can wait until 2026 for the IPO. If economic indicators deteriorate in the second half of this year – fuel prices rise or turnover decreases – we will have to start looking for additional money. We may have to ask shareholders for it.”
The company says it will manage in the meantime until the end of this year, though much depends on how summer sales go.
The airline is being impacted by the general economic situation in all three Baltic countries though, the company says, an increased aircraft occupancy rate indicates that people are once again able to afford vacations abroad.
The Latvian carrier currently operates 95 routes and is leasing three additional aircraft for the high season.
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