Airport, Latvia, Transport

Flick believes that it would be good for the airline in both a financial sense and in terms of its reputation if it were registered on the stock market, where there is strict supervision and important deals are publicized, informs LETA.

"I would admit one fundamental mistake – if you carry out such a major deal, the public must be informed. That should have been done immediately after the deal was made in November last year. And even worse – I very much regret that we left the minister and members of the council in an uncomfortable position. That, of course, is not good," admitted Flick.

The airline chief thinks that in the long term, airBaltic will become too large to be owned by just two shareholders. He also stressed that he was not aware of what the state would do with its shares; however, the airline would continue to grow in the long term, and this would provide new access to financial markets.

There is particularly great interest from other airlines in the airBaltic shares belonging to Baltijas aviacijas sistemas, but no offers have been seen as yet which would offer added value to the airline.

Flick indicated that he was interested in fully concentrating on the business development of the airline, and that it was therefore worth coming to agreement now with a partner who had access to the financial markets.

The airline chief also stressed that the airBaltic brand had been sold in order to balance the negative capital possessed by the airline at that time, which was one of the most difficult periods in aviation history. However, Flick indicated that even without the sale of the brand, the company would have made a profit of around LVL four million last year.

The airBaltic president indicated that it was not possibly to return the airline's brand immediately, as the capital received by the airline through the deal was necessary to ensure financial banking for the acquisition of several new aircraft, for which certain minimum financial figures were required.