Airport, Financial Services, Investments, Latvia, Legislation, Transport

"We will support any plan to increase airBaltic share capital, and no state money is necessary for this. We are prepared to buy out all state-owned airBaltic shares at any time for their nominal value," said BAS representatives.

"By now, the government has become a minority shareholder, nevertheless, the government continues blocking decisions. Furthermore, now the government says it is ready to sell the state-owned airBaltic shares. BAS has so far accepted all suggestions and requirements from the government, hoping that a real decision will finally be made, but it still has not happened," said BAS.

As reported, after the Cabinet's session on Tuesday, members of the government acknowledged that the state is ready to sell its shares in airBaltic, if agreement cannot be reached with the co-shareholder.

Prime Minister Valdis Dombrovskis (Unity) stressed that the airline's share capital increase still remains the primary scenario, but if agreement is not reached, then, as an alternative scenario, a selling the state's shares will be considered.

Yesterday, airBaltic turned to Riga District Court with an application for legal protection proceedings. The application has been registered, but the court has not yet decided whether to accept it.

An emergency Cabinet meeting has been called for today at 10 a.m. in regard to the current situation at airBaltic.