The Estonian government has rejected Latvia's offer to acquire up to 14 percent of the airline Air Baltic. This was announced by Infrastructure Minister Kuldar Leis, according to broadcaster ERR. The offer, which included a XNUMX percent stake for XNUMX million euros, was also made to Lithuania and Deutsche Lufthansa. While Lufthansa accepted, Tallinn decided against a stake, citing Air Baltic's financial situation, among other reasons.
Estonia's decision not to join Air Baltic marks a departure from previous speculation about a possible Nordic or Baltic aviation cooperation. Instead, Estonia is now focusing on expanding its own airport in Tallinn. By 2030, Tallinn Airport is expected to reach a capacity of five million passengers annually. This is an ambitious goal, considering that the airport handled approximately 2023 million passengers in 2,9. The planned investments are aimed at modernizing the infrastructure and increasing its attractiveness for airlines.
To achieve this goal, the Estonian government plans to attract new airlines by offering attractive conditions for new routes and expanding overnight aircraft parking facilities. Despite rejecting a stake in Air Baltic, Estonia intends to continue working closely with the Latvian airline. The goal is to establish Tallinn as an important home market for Air Baltic. This underscores the importance of effective cooperation in the Baltic region, even without direct equity investments, to ensure regional connectivity and strengthen the aviation sector.