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.

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