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.

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 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.

Lufthansa Group has agreed to invest €14 million in AirBaltic for a convertible share representing a 10 per cent stake in the Latvia-based carrier, the companies announced on Wednesday. Lufthansa will also take a seat on AirBaltic's supervisory board. The deal is expected to close during the second quarter, subject to antitrust review.

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.