LV: airBaltic takeover to increase budget deficit-FinMin.

By bne IntelliNews December 2, 2011
Should the government increase own capital of airBaltic national air carrier single handily and take over full control over the company, this will influence the budget deficit, FinMin believes. This will only influence the 2011 budget deficit and not the 2012 budget, in which additional consolidation will not be required, FinMin added. According to the report by LETA based on governmental sources, the government is preparing to take over the national air carrier airBaltic. The government was revising the situation in the light of recent closure of Latvijas Krajbanka and SNORAS Bankas which were the main creditors of airBaltic and came to a conclusion that there can be no guarantees that private shareholder BAS is going to fulfil its obligations in increasing airBaltic's capital.

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