Airport, EU – Baltic States, Latvia, Legislation, Transport

Bertolt Flick.

When asked where he would once again obtain so much money to purchase the shares, Flick did not wish to answer, informs LETA.

He also did not answer questions when he intends to return to Latvia, and said that the Corruption Prevention Bureau (CPB) has not contacted him in regard to the so-called ''oligarch affair''.

Asked why the airBaltic press conference is being held in Berlin instead of in the Baltics, Flick said that he is a German citizen and a German investor in Latvia, and believes that Berlin is the right place for the press conference.

Asked whether the airline intends to sue Economy Minister Artis Kampars (Unity) for his recent comments, Flick said that the airline will take the necessary steps if needed, and it must be evaluated whether it will be a civil process or a criminal process.

Flick also said during the press conference that he believes that his phone calls are being tapped by Latvian security structures.

As reported, in an interview with "Rietumu radio" last week, Kampars said that airBaltic operated with a loss of LVL 18 million in the first five months this year and is close to bankruptcy.

The minister believes that the huge loss was created on purpose, to "pump out funds" from the company.

Kampars said that he had received alarming information. "Last year Latvian government invested more than LVL 15 million into the company to make sure that airBaltic can buy new planes on lease and continue development. airBaltic head and co-owner Bertolt Flick was showing the government his business plan that was promising a large profit this year and in 2012 – instead, the company is losing enormous money," said Kampars.

Kampars sees no reason for the losses. "Last year there was the Icelandic volcano, but there have been no volcano eruptions this year to hamper airlines' operations," said Kampars.

Kampars sharply criticized airBaltic management mode, where large part of processes that are important to airBaltic daily operations – financial management, service provision, fuel supplies – have been entrusted with companies that are directly connected with Flick's private company. On the other hand, the actual owners of his private company are unknown as they control it via offshore companies. "This makes me think that what we are seeing is a premeditated attempt to pump out funds from the company," said Kampars.

Kampars reminded that then-Transport Minister Ainars Slesers (Latvia's First Party/Latvia's Way) had signed an "extremely disadvantageous" shareholders agreement with airBaltic, which continues to cause losses for the state of Latvia. "This person should pay for these losses, or be held responsible in some other manner," said Kampars.

"If it is confirmed that the company is close to bankruptcy, there is such a notion as bankruptcy fraud, and that already carries a criminal penalty," stressed Kampars. The minister hopes that the state will not have to rescue the airline out as it had to bail out Parex banka.

LETA also reported, Slesers has been named as one of Latvia's three so-called oligarchs by President Valdis Zatlers. He is also accused by the Corruption Prevention Bureau of asking Flick to sign fictitious contracts with several mass media companies on advertising airBaltic services, however, the money was instead channeled to promote Slesers and the party Latvia's First Party/Latvia's Way.