newstodate.aero
Sep 29, 2011 (newstodate): Shareholder of the Latvian carrier airBaltic will meet today to decide on the future of the carrier, landed in a pile of debts.
An agreement between the two main shareholder, the Latvian state and BAS, has been formulated, and if passed at the meeting the airline will get fresh capital to clear its debts and plan for its future including the acquisition of much-needed new aircraft.
Among the conditions set by the state, a thorough management reshuffle must be carried out, including replacing the airline current President and CEO, Bertolt Flick.
An agreement between the two main shareholder, the Latvian state and BAS, has been formulated, and if passed at the meeting the airline will get fresh capital to clear its debts and plan for its future including the acquisition of much-needed new aircraft.
Among the conditions set by the state, a thorough management reshuffle must be carried out, including replacing the airline current President and CEO, Bertolt Flick.