LV: Government approves injecting LVL 15.6mn in airBaltics capital.

By bne IntelliNews April 14, 2010
Government approved providing LVL 15.6mn (EUR 22.2mn) out of LVL 30mn capital injection in the national air carrier airBaltic. The remaining amount is to provided by co-owner of airBaltic Baltijas Aviacijas Sistemas. However, as commented by EconMin Artis Kampars, it still not clear from where the owner of BAS and president of airBaltic Bertold Flik is going to raise the amount necessary for capital increase. Kampars also stressed that government agreeing for the capital increase would mean that the state is going to take tougher control of companys financial operations. 52.6% of airBaltic shares are owned by the state, while remaining 47.2% of shares are held by Baltijas Aviacijas Sistemas owned by Flik.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss