19 SEPTEMBER 2011

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Article from BTNews 19 SEPTEMBER 2011

airBaltic flies on

In spite of serious financial problems, and the cancellation of some services, Latvian airline airBaltic is continuing with its operations.  In a strongly worded statement last Friday, the Latvian government said that it would continue support for the embattled carrier.

“The Government of the Republic of Latvia and the Ministry of Transport, as airBaltic's majority shareholder, is strongly committed in continuous development of the company and is ready to invest necessary financial resources in further development of company's activities.” 

airBaltic goes back to 1995 as a joint venture of the State and SAS, who pulled out in 2009, its majority stockholding retained by the management.  airBaltic President Bertolt Flick recently criticized Latvian politicians for their involvement but the Economy Minister Artis Kampars wants to see Mr Flick’s departure and international investors brought in. www.airbaltic.com

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