Carrier remains third-largest global A220 operator, with fleet supporting network to 80 destinations.

The deal that is yet to be ratified provides for the German group to hold at least 5% of the shares of the Latvian carrier after a potential IPO

airBaltic to supply five Airbus A220-300s under strategic partnership announced on Tuesday

The carrier is expected to be announced on Tuesday and will initially fly with Airbus A220-300 aircraft under wet lease from AirBaltic

German group is the target of reports that claim the company is considering acquiring shares in the two European carriers

Latvian airline is the aircraft's biggest customer in Europe, with 90 firm orders

The Latvian carrier is currently the largest operator of the A220-300 model, with 44 aircraft, according to Airbus