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Latvia’s government approves 250 million euros investment in airBaltic

cde.news desk 7 May 2020, 21:49 · 1 min read

epa08354855 Latvian airline airBaltic Airbus A220-300 YL-CSM sits on the tarmac after landing with a cargo of face masks from China, at Riga International Airport, Latvia, 10 April 2020, during the coronavirus disease (COVID-19) pandemic. A special cargo flight brought to Latvia around one million face masks made in the Chinese provinces of Zhejiang and Jiangsu. EPA-EFE/TOMS KALNINS

Latvia’s government on Thursday gave the go-ahead to an investment of up to 250 million euros ($271 million) in airBaltic to help the airline get through the COVID-19 pandemic.

The investment plan, which remains subject to European Commission approval, will be done in tranches, and will increase Latvia’s stake in airBaltic to 91% from the current 80.05% if carried out in full.

“The investment by the government will allow the company to overcome the emergency situation and will enable it to develop by retaining its competitiveness,” Latvian transport minister Talis Linkaits said at a news conference on Thursday.

via Reuters

Filed under Aviation Business Latvia

Topics airBaltic Airlines Aviation Coronavirus Latvia

Latvia’s government approves 250 million euros investment in airBaltic

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