Latvia's Ministry of Transport confirmed to "Aktuaalne kaamera" that both Estonia and Lithuania have received a formal offer to acquire a stake in airBaltic. Lithuanian officials have previously stated that any agreement would require a firm deal regarding either a base in Vilnius or flight operations.

The exact contents of Latvia's offer have not been made public. The Latvian government discussed involving neighboring countries during a closed session. It was also decided that airBaltic would abandon plans to expand into foreign markets and instead focus on profitability and the development of Riga Airport.

"Lufthansa has decided to invest €14 million and become a strategic partner. We're offering Estonia and Lithuania the same terms and are awaiting their response. The next opportunity would be to join through the IPO. We've made it clear that airBaltic must bring in private capital," said Latvian Minister of Transport Atis Švinka.

Estonian leaders have so far offered airBaltic political support, but not financial backing.

"That's what we'll be discussing tomorrow (Thursday – ed.) in the government. My view of airBaltic is positive — it's a very solid company from Estonia's perspective. But the full proposal from the Latvians will be presented to the government tomorrow. We'll explain in more detail at the press conference what we discussed and where we stand," Prime Minister Kristen Michal (Reform) said.

Germany's competition authority was hesitant to approve Lufthansa's stake in airBaltic, as Germany and the Baltic states are competitors in the regional aviation market. In Latvia, there are already concerns that airBaltic ticket prices may rise. Lufthansa is investing €14 million in the airline. The size of the stake it receives in return will be determined during the IPO, once the airline's actual value is known. It will amount to at least 5 percent. While Estonia and Lithuania joining in would not solve the Latvian airline's financial issues, it could increase the company's credibility.

Chamber: Estonia should seriously consider a stake in airBaltic

According to Mait Palts, director general of the Estonian Chamber of Commerce and Industry, Latvia's offer to acquire a stake in airBaltic is an opportunity to safeguard Estonia's strategic interests and ensure the continuation of direct air connections, which in turn supports both tourism and the competitiveness of the broader economy.

"As a small country on the periphery, we in Estonia cannot rely solely on market forces — ensuring air connectivity requires a conscious political decision," he said.

Palts emphasized that direct connections are crucial to the survival of the tourism sector, which contributes approximately 5–7 percent of the country's gross domestic product (GDP).

In addition to tourism, Palts said access to flight connections significantly affects the business environment and investment climate. In global competition, access to Estonia is a factor that plays an important role in foreign investment decisions and the location of company headquarters, he added.

"A stake in airBaltic would allow Estonia to invest in air connectivity without having to shoulder the full cost and risk. The government must take this proposal seriously, as it clearly has long-term, strategic implications for our economy," Palts explained.

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