SEB bank economist Dainis Gaspuitis

In the situation with airBaltic, the most important thing is not only keeping it as the national airline, with the same functions, but also developing, Dainis Gaspuitis, SEB bank macro-economic expert, told the news portal BNN.

The economist’s opinion opposes the statement of Augusts Brigmanis, the politic party Greens and Farmers Union Chairman, that the state should not invest any funds in airBaltic rescue. Brigmanis believes if it is not airBaltic, there will be another airline to ensure that people can fly from Riga to whatever destinations.

According to Gaspuitis, the situation around airBaltic is complex and it is difficult to judge about the most optimal development scenario, given the contradictory and limited information in the public space.

“The company is playing a major role in the Latvian economy and serves as the cornerstone of the whole air transport industry, boosting also other sectors, for example, tourism,” Gaspuitis says.

The economist believes all in all the state should keep influence big enough to maintain its strategic role and let private shareholders develop the company in a transparent way.

In terms of Brigmanis statement that airBaltic could turn out to be the next Parex bank, making the state its hostage. Gasputis thinks experience with Parex takeover means a complicated background also for airBaltic. Moreover, the upcoming elections also add to the complexity of the issue.

“The solution needs to correspond to options and long-term future vision. Transparency of further processes matters as well, so that no doubt is cast on the use of state funds,” Gaspuitis adds.