Air Baltic Begins to Explore Stake Sale as IPO Efforts Stall

Latvia’s state-backed airline Air Baltic is looking to hire advisers to explore a sale of part of the business to investors as a long-awaited equity market listing has yet to materialize, according to people familiar with the matter.

The flag carrier, which is majority-owned by the government, has been touting an initial public offering for several years, at one stage targeting 2025 for a public listing. In November the company said the IPO was being delayed until 2026.