newstodate.aero

Jan 05, 2022 (newstodate): In the closing days of 2021, the EU Commission approved half of the Latvian government's investment of 45 million euro into the equity of the Latvian airline airBaltic.
   The aid is seen as a compensation for the losses caused by the Covid-19 pandemic and to support the airline in overcoming the economic crisis.
   On August 17, 2021, the majority shareholder of airBaltic the Latvian state actually approved the investment of 90 million euro into the equity of airBaltic - but the remaining half of the investment now remains subject to the approval of the European Commission.
   The capital infuse is planned to be returned to the Latvian state in form of proceeds from selling shares during a planned initial public offering of airBaltic in the future.
   Due to the Covid-19 pandemic, the number of passengers carried by airBaltic decreased by 73 percent, y-o-y, in 2020, and significantly influenced the company’s operations.