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Lufthansa Group and Latvian State Complete €28 Million Investment in airBaltic

airBaltic has announced that the process of attracting strategic investors has been completed, with a co-investment by Lufthansa Group and the Latvian State totaling €28 million.


airBaltic Airbus A220-300 - Courtesy airBaltic
airBaltic Airbus A220-300 - Courtesy airBaltic

On Thursday (August 21, 2025), airBaltic announced that Lufthansa Group and the Latvian State have co-invested a total of €28 million in the Latvian national airline.  Under the terms of the investment agreement, airBaltic’s Supervisory Board will expand to five members, with the addition of Dr. Alexander Feuersänger from Lufthansa Group and Ruta Amtmane.  The new Board Members will join current members Andrejs Martinovs, Jurģis Sedlenieks, and Lars Thuesen.


Dr. Feuersänger brings over 20 years of aviation industry management, with a focus on fleet management, aircraft maintenance, and product development.  Currently, he serves as SVP – Fleet Management at Lufthansa Group, and also holds board positions with Ameco Beijing and German Operating Aircraft Leasing (GOAL).  Previously, he held senior roles at Lufthansa Technik.  Dr. Feuersänger earned his Ph.D. in Aeronautics from ISAE-SUPAERO in Toulouse, and holds a Master’s degree in Aerospace Engineering from RWTH Aachen University and Imperial College London.  He has also completed executive education programs at Columbia Business School and IMD Business School.


Ruta Amtmane has over 20 years of management experience in legal, compliance, and corporate governance roles within the banking and financial services sector.  Currently, she serves as Deputy Chairman of the Supervisory Board of AS APF Holdings.  Previously, Ruta Amtmane was a Management Board member of AS Industra Bank, and has held various senior positions at AS Reverta (formerly AS Parex Bank), SIA DNB Līzings, and AS DNB Banka.  Ms. Amtmane holds a Master’s degree in Law from the University of Latvia and a Bachelor’s degree in Law from the RIMPAK Livonija Business Institute.


Established in 1995, Air Baltic Corporation SA (airBaltic) is a joint stock company with most of the equity held by the Latvian state and the remaining equity held by other minority shareholders, including Lufthansa Group.  One of the most punctual carriers in the world, the airline connects the Baltic region with over 130 routes from Riga, Tallinn, Vilnius, Tampere, and seasonally from Gran Canaria to more than 80 destinations in Europe, the Middle East, North Africa and the Caucasus region.  The carrier operates a single fleet type of 50 Airbus A220-300s, and plans on expanding their A220-300 fleet to 100 aircraft by 2030.  The airline Group also includes Air Baltic Training SIA, Loyalty Services SIA, Baltijas Kravu Centrs SIA and Crew Resources AS.  airBaltic currently employs over 2,800 team members.


 

Source: airBaltic

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