Lufthansa said on Wednesday it had agreed to receive a stake of 10% in Latvian airline airBaltic, as the German airline seeks to strengthen its international network.

Deutsche Lufthansa AG will buy a 10% stake in Latvian flag carrier AirBaltic AS as the German carrier group continues its consolidation push in Europe.

Lufthansa Group has taken a 10% share in airBaltic while extending the existing Airbus A220 wet lease deal between the carriers.

The two parties say that the transaction closure is planned for the second quarter of 2025, subject to antitrust review.

Lufthansa Group has agreed to invest 14 million euros in Air Baltic for a convertible share representing a 10% stake in the Latvia-based carrier. Lufthansa also would take a seat on Air Baltic's supervisory board.

Lufthansa wants to bind wet-lease partner Air Baltic more closely to itself – and is taking a stake of up to 10% in the Latvian national carrier. Meanwhile, there are rumours about Lufthansa acquiring a stake in another European airline.

Lufthansa said on Wednesday it had agreed to receive a stake of 10% in Latvian airline airBaltic, as the German airline seeks to strengthen its international network. The stake will be issued in the form of convertible shares currently at a subscription price of 14 million euros,