newstodate.aero
Dec 01, 2011 (newstodate): The Latvian state has felt obliged to take over the stake in the national carrier airBaltic formerly held by the minority shareholder, Baltic Aviation Systems.
After this, the Latvian state now reportedly holds 99.8 percent of the shares in the airline.
The move was prompted by last week's collapse of the Latvian bank Krajbanka that is reportedly a main financial source behind BAS that recently landed an agreement with the state to inject fresh capital into airBaltic in proportion to their respective stakes.
The state has thus intervened in an effort to secure the continued operations and future survival of the carrier.
After this, the Latvian state now reportedly holds 99.8 percent of the shares in the airline.
The move was prompted by last week's collapse of the Latvian bank Krajbanka that is reportedly a main financial source behind BAS that recently landed an agreement with the state to inject fresh capital into airBaltic in proportion to their respective stakes.
The state has thus intervened in an effort to secure the continued operations and future survival of the carrier.