Danish entrepreneur Lars Thuesen is set to acquire a stake in airBaltic (BT, Riga), the LETA news agency has disclosed.

According to the report, Thuesen is in the process of acquiring the approximately 20% stake in the airline currently held by German investor, Ralf Montag-Girmes, through his Aircraft Leasing 1 vehicle. The transaction, he said, has already secured official approval from Latvian Prime Minister Māris Kučinskis's cabinet.

Thuesen said he, as a financial investor, does not intend to pursue a greater shareholding in the airline. From a strategic point of view, he said he sees airBaltic as a strong investment given its successful business development strategy, its fleet renewal plans based upon A220-300s, and Latvia's ideal geographical location in the Baltic states and northern Europe.

Government, which owns 80% of airBaltic, is in the process of finalizing a shortlist of potential strategic investors. Early last month, Latvia’s Minister of Transport Uldis Augulis said the final list could be announced by November of this year. International consultancy firm Lazard Freres has been charged with the task.