Air Baltic - comment

Good news for the bonds, perhaps. In an interview with Reuters, Latvian interim PM Andris Kulbergs has confirmed that the government is in advanced negotiations with an unnamed investor (not Lufthansa) to sell an unspecified stake in the airline in an effort to stabilise it. We'd imagine the stake travels for €1 at most and understand that certain "internal restructuring" steps must be undertaken before the deal can be implemented. Negotiations are apparently at an advanced stage, with conclusions expected towards the end of summer.