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Tuesday, 12.08.2025, 16:40
Transport Ministry of Latvia continues work on lawsuit against Flick
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Preparing a quality lawsuit is a time-consuming process, added the ministry.
As reported, Flick will be sued in accordance with Section 172 of the Commercial Law for the losses he has caused, writes LETA.
Flick quit last fall after it became apparent that the airline's losses had reached a record-breaking amount. The airline's current CEO Martin Gauss has reported that airBaltic operated with a loss of LVL 77 million in 2011.
LETA also reported, airBaltic plans consolidation in the amount of LVL 330 million by 2016 in an attempt to reduce costs and increase revenue, according to the airline's business plan approved by the government at the beginning of this month. According to the business plan, airBaltic plans to operate with a profit already in 2014.
airBaltic currently offers direct flights to 60 destinations from Riga International Airport.
airBaltic was established in 1995, the state of Latvia is currently the key shareholder with a 99.8% stake.
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