Government heads for the Airline Giant AirBaltic

December 2, 2011

Airline Giant AirBaltic AS is at the centre off it with the Latvian Government buying out a minority share. The airline is known to be unprofitable being a know issue and help may have been timed well. The figure of 432,972 dollars was the cost of the shares the Government paid which now gives it almost a one hundred percent share of the airline.

“The government decided to act proactively in the defense of the state’s interests and take control of AirBaltic,” said the ministry and indicating it is not to effect the coming Budget in the new year.

A shareholder in BAS and a earlier CEO (Chief Executive Officer) Bertolt Flick said, “It’s obvious that that 200,000 lati for 47.2 percent of AirBaltic’s shares is an inadequately low sum”, continuing with, “and in this situation the government and also Krajbanka’s administrator has acted against the interest of the airline and the bank’s depositors.”

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