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On Thursday, September 22, at the extraordinary Cabinet sitting, the government decided to work on three scenarios for further action – proportional increase of airBaltic’s capital with participation of both shareholders, selling of the state-owned shares of airBaltic to the investor as well as the founding of a new national airline.
To carry out the first scenario, “Baltijas Aviācijas sistēmas” (BAS) immediately must implement all the government’s requirements, incl., must submit the evidence that the true beneficiaries of BAS have sufficient funding to invest in airBaltic together with government’s investment. Conceptual support for the particular scenario the government expressed already on August 23, however, at that time BAS, regardless of its publicly expressed consent, could not implement the requirements of the government.
To implement the second scenario, it is essential to reach an agreement on the conditions of selling the state-owned shares of airBaltic that would be acceptable for the government. The government’s consultant Prudentia is organizing negotiations with BAS on the opportunities to implement these two scenarios.
To investigate the feasibility of the third scenario, the government today decided to attract the internationally recognized aviation experts who will consult on legal, financial and technical implications of establishing a new air operator.
Mārtiņš Panke
Press Secretary to the Prime Minister
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