newstodate.aero
Sep 30, 2011 (newstodate): As expected, plans for a refinancing of the Latvian carrier airBaltic now seem to be materializing.
The Latvian state holding 52.6 percent of the shares and the minority owner BAS met on September 29, 2011, to finalize talks on a solution resulting in the injection of some 150 mio euro into the airline, provided agreement on harsh conditions set by the state.
The two parties will meet again on October 4, 2011, to ink the final agreement.
It remains undisclosed exactly which conditions have been set by the state, but a change of management including replacement of the current CEO and President seems a rather safe guess.
In a release the conditions set by the state are termed "technical"..
The Latvian state holding 52.6 percent of the shares and the minority owner BAS met on September 29, 2011, to finalize talks on a solution resulting in the injection of some 150 mio euro into the airline, provided agreement on harsh conditions set by the state.
The two parties will meet again on October 4, 2011, to ink the final agreement.
It remains undisclosed exactly which conditions have been set by the state, but a change of management including replacement of the current CEO and President seems a rather safe guess.
In a release the conditions set by the state are termed "technical"..