Ralf-Dieter Montag-Girmes €50 million acquisition of 20% stake in airBaltic

Overview:

• The Republic of Latvia sold a 20% stake in airBaltic to German investor Ralf-Dieter Montag-Girmes for a consideration of €52 million.
• As part of the agreement, Montag-Girmes agreed to invest a further €80 million of capital into the airline.
• airBaltic serves more than 60 destinations and ranks as the world's most punctual airline. 
• The state had owned a 99.8% share of the air carrier since 30 November 2011, following the collapse of a bank linked with a finance package negotiated for the airline.

Jon Moore - Journalist