newstodate.aero
Aug 28, 2012 (newstodate): The Latvian state has launched an advertizing campaign for a stake in its national carrier, airBaltic.
Through this announcement, the state is launching a tender for attracting non-binding expressions of interest by November 1, 2012, for a stake of up to 50 percent minus one share.
The Latvian state now owns 99 percent of the airline since the final take-over in November 2011 of the 47 percent share held by Baltic Aviation Systems.
The carrier needs fresh capital to secure its continued development including the acquisition of 10 Bombardier CS300 aircraft and realization of its purchase rights for a further 10 CS300 aircraft as well a more Bombardier Q400 aircraft.
Reporting losses of 32 mio euro for the first six months of the year, the carrier is seeing an improvement on last year's disastrous performance and hopes to show profitability in 2014.
Through this announcement, the state is launching a tender for attracting non-binding expressions of interest by November 1, 2012, for a stake of up to 50 percent minus one share.
The Latvian state now owns 99 percent of the airline since the final take-over in November 2011 of the 47 percent share held by Baltic Aviation Systems.
The carrier needs fresh capital to secure its continued development including the acquisition of 10 Bombardier CS300 aircraft and realization of its purchase rights for a further 10 CS300 aircraft as well a more Bombardier Q400 aircraft.
Reporting losses of 32 mio euro for the first six months of the year, the carrier is seeing an improvement on last year's disastrous performance and hopes to show profitability in 2014.