newstodate.aero
Aug 04, 2011 (newstodate): With the formation of a new Council, or Supervisory Board, for the Latvian carrier airBaltic, the long-overdue process towards expansion of the ownership structure and infusion of fresh capital has taken one step forward.
Also delayed is the airline's 2010 report that will finally be transmitted to the government after approval by the new Council.
Thereafter the state, that owns 52.6 percent of the shares, will decide on an expansion of the capital basis required for the airline's imminent need of new aircraft to expand the fleet and phase out aging Boeing 737 aircraft.
Owning the remaining 47.2 percent of the shares is Baltijas Aviacijas Sistemas, controlled by airBaltic's president and CEO, Bertolt Flick.
Also delayed is the airline's 2010 report that will finally be transmitted to the government after approval by the new Council.
Thereafter the state, that owns 52.6 percent of the shares, will decide on an expansion of the capital basis required for the airline's imminent need of new aircraft to expand the fleet and phase out aging Boeing 737 aircraft.
Owning the remaining 47.2 percent of the shares is Baltijas Aviacijas Sistemas, controlled by airBaltic's president and CEO, Bertolt Flick.