newstodate.aero
Oct 05, 2011 (newstodate): As expected, the Latvian state, majority owner in the country's airBaltic, has ousted Bertolt Flick as President and CEO of the airline.
This came as a prime condition for agreeing to inject capital into an increase in the stock of the ailing carrier, together with BAS, the minority owner headed by Mr Flick.
-airBaltic contributes about EUR 250 million to the Latvian economy annually, the largest exporter of services and the major carrier at Riga Airport, and by far the leading carrier in the Baltic region. Over 4000 workplaces are related to airBaltic operations in Riga. The economic crisis in the Baltics and the emigration from Latvia have left a deep mark on the airline market in the region. airBaltic will have to reinvent itself again and it will succeed, says Bertolt Flick in a farewell address issued yesterday.
-The last few months have been very difficult for our company. For a long period of time, necessary decisions by the shareholders had not been taken, until the situation was resolved today. As an owner and for the sake of airBaltic, I have agreed to step down, as the agreement between the shareholders does so require, for the future of the airline.
This came as a prime condition for agreeing to inject capital into an increase in the stock of the ailing carrier, together with BAS, the minority owner headed by Mr Flick.
-airBaltic contributes about EUR 250 million to the Latvian economy annually, the largest exporter of services and the major carrier at Riga Airport, and by far the leading carrier in the Baltic region. Over 4000 workplaces are related to airBaltic operations in Riga. The economic crisis in the Baltics and the emigration from Latvia have left a deep mark on the airline market in the region. airBaltic will have to reinvent itself again and it will succeed, says Bertolt Flick in a farewell address issued yesterday.
-The last few months have been very difficult for our company. For a long period of time, necessary decisions by the shareholders had not been taken, until the situation was resolved today. As an owner and for the sake of airBaltic, I have agreed to step down, as the agreement between the shareholders does so require, for the future of the airline.