Air Baltic Closes In on Sale as Lazard Lines Up Bidder Shortlist

Air Baltic Corp., the Latvian carrier that’s gone from near collapse to launch customer for Bombardier Inc.’s largest C Series jetliner, aims to secure a strategic investor as soon as the end of this year after attracting a global lineup of potential bidders.

Lazard Ltd., which is managing the sale, has drawn up a shortlist including other airlines as well as financial investors with aviation experience, and will now commence a period of due diligence before seeking binding bids, Martin Gauss, the state-controlled carrier’s chief executive officer, said in an interview.