Riga, 14.12.2016.

The Latvian airline airBaltic has selected Lazard Frères as its financial adviser to attract potential investors and finance for future development of the carrier. 

Martin Gauss, Chief Executive Officer of airBaltic: “airBaltic has completed a successful turnaround and achieved profitability. We are now taking airBaltic to a new level of development by attracting additional investment and finance.  We are delighted to select Lazard Freres from the group of interested bidders.”

Lazard Frères is a financial advisory and asset management firm, founded in 1848. Today Lazard Freres operates in 42 cities across 27 countries.

airBaltic serves over 60 destinations from its home base in Riga, Latvia. From every one of these locations, airBaltic offers convenient connections via Riga to its network spanning Europe, Scandinavia, CIS and the Middle East. In addition, airBaltic also offers direct flights from Tallinn and Vilnius.


airBaltic (AIR BALTIC CORPORATION) is the world’s most punctual airline connecting the Baltic region with 60 destinations in Europe, the Middle East, and the CIS. airBaltic is a joint stock company that was established in 1995. Its primary shareholder is the Latvian state, which holds 80.05% of the stock, while Ralf-Dieter Montag-Girmes holds around 20% through his fully-owned Aircraft Leasing 1 SIA. The airBaltic fleet consists of 25 aircraft – 1 Bombardier CS300, 12 Boeing 737 and 12 Bombardier Q400Next Gen. airBaltic has received numerous international awards for excellence, innovative services, and achievements in reshaping its business. In 2012, airBaltic was ranked by Airlinetrends among the Top 10 airlines globally for innovations. airBaltic achieved the best on-time performance globally for two years running in 2014 and 2015.