Airport, Financial Services, Investments, Latvia, Transport

airBaltic may move their head offices where they want, said Brigmanis, adding that state must not become a hostage to airBaltic.

He believes that an enterprise, which works with losses, "should be given away". "It will be another Parex Bank", he said. "There is now information that LVL 170 million will have to be invested in the company. Let's not make pensioners, farmers and teachers hostages, cut their salaries to give money to airBaltic. In my opinion, airBaltic may fly away!"

He does not question that airBaltic is a strategically important company for Latvia, but "if it is not airBaltic, there will be another airline".

As reported, the government of Latvia decided to take part in bailing out airBaltic on August 23.

Newspaper "Diena" wrote last week that the state might have to invest about LVL 170 million in taking over full control of airBaltic. This would be the total investment by the state – purchasing the shares of minority shareholder Baltijas Aviacijas Sistemas, covering the airline's losses, and making the necessary investments.

''Air Baltic Corporation'' was established in 1995. The company's majority shareholder is the state of Latvia with 52.6% of shares. On the other hand, airBaltic's president Bertolt Flick owns 50% in Baltijas Aviacijas Sistemas, which controls 47.2% of shares in the airline.