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Tuesday 21.11.2017 | Name days: Andis, Zeltīte
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Gauss: we do not fear the case against Lithuanian bankrupt airline

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe request of the Lithuanian Court to arrest properties owned by airBaltic and Riga International Airport worth nearly EUR 60 million will not affect passengers of airBaltic, notes the airline’s CEO Martin Gauss.

In his interview to Rīta Panorāma programme of LTV, Gauss confirmed that the litigation with bankrupt Lithuanian FlyLal will not in any way affect airBaltic passengers.

This case has been in the works for many years, said Gauss. He described this situation as foolish. «We do not fear this case, because it is not real. […] We are positive,» – said CEO of airBaltic, adding that the bankrupt Lithuanian airline thereby tries to use airBaltic’s success in its own interest.

airBaltic expects legal support from Latvian government. Gauss says he believes in Latvia’s justice system. He notes that this case has been «made into a big deal by the media».

He also admits that airBaltic’s financial results for the nine months of 2014 may reach EUR 9 million.

Although the crisis in Ukraine has affected airBaltic, this year is planned to be concluded with profits larger than last year. Looking at results for the past six months, Gauss predicts the annual profits may reach EUR 9 million.

BNN had previously reported that Court of Justice of the European Union has ruled that properties of airBaltic and Riga International airport worth EUR 57.92 million can be arrested in accordance the decision made by the Lithuanian Court of Justice.

The Lithuanian Court made this decision October 23rd. This opens the way for creditors of the new bankrupt FlyLAL-Lithuanian Airlines to demand coverage of losses worth 200 million litas in regard airBaltic’s possible dishonest practices, as mentioned by FlyLAL administrator Aurimanis Valaitis in an interview to Delfi.lt.

According to him, the Supreme Court of Latvia is expected to pass on its ruling. Then it will be possible to perform activities necessary for the arrest of properties in Latvia.

FlyLAL went bankrupt in 2009. One of the mentioned reasons was supposedly unfair competition. In 2008, Lithuanian Court of Appeal decided to arrest properties owned by Riga International airport and airBaltic worth nearly 200 million litas, which was requested by flyLAL.

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