LV: airBaltics losses estimated at EUR 135mn as of 2008.

By bne IntelliNews September 23, 2011
Governments consultant on airBaltics case investment company Prudentia announced that based on un-audited data national air carriers losses as of end of 2008 until the end of H1/11 stand at about LVL 95mn (EUR 135mn). Prudentias head Karlis Krastins noted that companys losses were growing rapidly since airlines president Bertold Flik became a president and commented that this weeks move on Fliks behalf to seek legal bankruptcy protection is going to disturb airlines creditors and suppliers no less than it did the government. At the same time, the government failed to come up with a clear course of action regarding airBaltic, again citing lack of cooperation from its private shareholder Baltijas Aviacijas Sistemas as a main cause.

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