By Joanna Plucinska
LONDON (Reuters) – AirBaltic’s initial public offering is now expected at the earliest in the first half of 2025, its chief executive told Reuters on Monday, as the airline’s advisors suggest it waits for market conditions in the European airline sector to improve.
The airline will instead consider its IPO timing for when “the multiples of European airlines, if they would go up, if there’s a better outlook for European airlines,” Martin Gauss told Reuters.
That means the timing could stretch into the second half of next year, or even later.
European airlines have struggled with supply chain delays, labour disruption, surging prices and limits to airspace this year, with many reporting weaker than expected financial results.
Previously, airBaltic said it would consider an IPO for the second half of 2024.
An announcement of its pre-IPO investor could come sooner, Gauss told Reuters, and “technically, could still be this month.”
Reuters previously reported that Lufthansa was one of the companies in talks for a strategic investment in the Latvian airline.
(Reporting by Joanna Plucinska, Editing by Louise Heavens)
Brought to you by www.srnnews.com
