Airport, Investments, Latvia, Legislation, Transport

He said that no specific decisions on the sale of the airline's shares have yet been made, but added that he hopes there will be more clarity by the end of the year.

The transport minister also said that if there are no ''surprises'' this year, like an unexpected increase in fuel costs, airBaltic should end the year without any losses, and could then continue to operate with profit.

''The ability for the company to return to profitability is one of the factors that could encourage investors to purchase shares in the airline,'' Matiss said.

As reported, an advertisement placed in the European and British editions of The Financial Times by the Transport Ministry last August invited non-binding expressions of interest for a stake of up to 50% minus one share in airBaltic.

Talks with several airlines, including Turkish Airlines, Qatar Airways, Ettihad and Emirates Airlines, have taken place for possible investments in airBaltic, and potential investors have also been sought out in Japan.

airBaltic was established in 1995, the state of Latvia is currently the key shareholder with a 99.8% stake.