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.

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.

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.