German investor Ralf Dieter Montag-Girmes has sold his stake in Latvia’s national carrier airBaltic to Danish entrepreneur Lars Thuesen. Latvian Prime Minister Mâris Kuèinskis commented that all the latest developments in airBaltic have been taking place in order to strengthen the company.

In 2015, Mr Montag-Girmes acquired 20% of the Latvian airline’s shares for an investment of EUR 52 million. The remaining 80% in airBaltic still belongs to the Latvian government.

The Sorainen team – partner Eva Berlaus and associate Natâlija Šestakova – provided full transaction support to Mr Montag-Girmes.