Airport, Financial Services, Latvia, Legislation, Transport

As Transport Minister Uldis Augulis (Union of Greens and Farmers) wrote in his ''Twitter'' account, the Transport Ministry will submit this agreement for a government vote on October 3, reports LETA.

''I congratulate the Transport Ministry and our consultants Prudentia to finally achieve an agreement between airBaltic shareholders to stabilize the work of the airline,'' Prime Minister Valdis Dombrovskis said after hearing about the agreement.

As reported, 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 Batlijas Aviacijas Sistemas (BAS), which is the airline's private shareholders which controls 47.2% of shares in the airline.

On the other hand, the owner of the Bahamas-based company Taurus Asset Management Fund Limited, which owns a 50% stake in BAS, is Russian resident Andrey Rudeshko.