Latvian Government Set To Invest €80m Into AirBaltic

The Latvian parliament has voted in favour of the government giving flag carrier AirBaltic an €80m ($87m) cash injection to help complete the purchase of thirteen Bombardier CS300 aircraft.

The Latvian parliament has voted in favour of the government giving flag carrier AirBaltic an €80m ($87m) cash injection to help complete the purchase of thirteen Bombardier CS300 aircraft.

The investment is to deter the airline from buying Sukhoi Superjets from Russia and will also include a €52m ($56m) private investment from German banker Ralf-Dieter Montag-Girmes in return for a 20 per cent stake in AirBaltic.

Despite concerns from Karlis Sadurskis, chairman of the parliamentary committee studying the airline that Montag-Girmes’ Russian interests could hamper any deal, a new shareholder agreement is set to be finalised by the end of 2015.

 

TAGS: Europe
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish