newstodate.aero
Aug 20, 2009 (newstodate): The Latvian state has reportedly stepped in to secure the continued operations and development of airBaltic by declaring willing to participate in an increase of the share capital of the airline.
The state now holds 52 percent of the shares, with the remainder held by a investment fund headed by the airline's CEO, Bertolt Flick.
No details have yet been published on the actual size of the new capital injection, but it is understood that the stake will remain split proportionately as it is now.
The solution thus found to the airline's plights will also secure the financing of the eight Dash-8 Q400 aircraft to be added successively from November this year.
The state now holds 52 percent of the shares, with the remainder held by a investment fund headed by the airline's CEO, Bertolt Flick.
No details have yet been published on the actual size of the new capital injection, but it is understood that the stake will remain split proportionately as it is now.
The solution thus found to the airline's plights will also secure the financing of the eight Dash-8 Q400 aircraft to be added successively from November this year.