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. |
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
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
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