LV: airBaltic saga continues as CEO seeks legal protection.

By bne IntelliNews September 22, 2011
The conflict between the private shareholders of national air carrier airBaltic Baltijas Aviacijas Sistemas (BAS, controlled by companys CEO Bertold Flik and holding 47.2% of companys shares, the rest being held by the state) and the government continues, shortly after the Communication Ministry short-sightedly announced that BAS accepted the governments conditions for companys capital increase. This time, Flik announced that airBatic is going to seek legal bankruptcy protection in court, which, if granted, will block all the governments interference in the operations of the company including the change of management. To remind, principal governments conditions for a capital increase are Flik leaving his post, maintaining Riga International Airport as airlines main hub and re-drafting shareholders agreements.
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