newstodate.aero
Jun 29, 2011 (newstodate): The shareholders of the Latvian carrier airBaltic will meet on July 25, 2011, to discuss the formation of a new airline council as well as an increase of the shareholding capital.
An increase of the shareholding capital is needed to recapitalize the airline's debts as well as to secure the basis for the future development of the carrier including a long-overdue decision on a new fleet strategy with acquisition of new medium-range aircraft to replace the aging Boeing 737 fleet.
Sources also say the council will address one bid for participating in a new emission of shares from the UK jet charter company Ocean Sky Aviation Ltd.
The current ownership circle of airBaltic comprises the Latvian state with 52.6 percent and Baltijas Aviacijas Sistemas, owned by the carrier's president and CEO Bertolt Flick and the Bahamas-registered investment fund Taurus Asset Management Fund Limited with the remaining 47.2 percent of the shares.
An increase of the shareholding capital is needed to recapitalize the airline's debts as well as to secure the basis for the future development of the carrier including a long-overdue decision on a new fleet strategy with acquisition of new medium-range aircraft to replace the aging Boeing 737 fleet.
Sources also say the council will address one bid for participating in a new emission of shares from the UK jet charter company Ocean Sky Aviation Ltd.
The current ownership circle of airBaltic comprises the Latvian state with 52.6 percent and Baltijas Aviacijas Sistemas, owned by the carrier's president and CEO Bertolt Flick and the Bahamas-registered investment fund Taurus Asset Management Fund Limited with the remaining 47.2 percent of the shares.