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.

German aviation giant Lufthansa Group is acquiring a minority stake in Latvian carrier airBaltic, the two airlines said on Wednesday. The German group said it signed an agreement to purchase a 10% stake in the form of convertible shares for €14 million ($14.

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

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.

LONDON (Reuters) -German airline group Lufthansa is in talks with Spanish carrier Air Europa about the possibility of acquiring a minority stake, according to two sources with knowledge of the talks. The airline is 20% owned by BA-parent IAG, which backed out of taking full ownership last year due to regulatory concerns.

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.