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Friday 18.08.2017 | Name days: Liene, Helēna, Elena, Ellena, Liena
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Investment banker: airBaltic capital should be boosted

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Girts Rungainis

The situation with the national airline airBaltic will evolve intensively over the coming months, as there really is a need to boost the currently small capital in the company. Whether this will be done by the state or investors will be a news topic of the next few months, the investment banker Ģirts Rungainis is convinced.

The money will have to be invested, because the company is aggressively expanding. Riga needs a strong airline, if it wants to become an aviation hub. Aviation in particular is an area where Latvia is ahead of other Baltic States and certain progress has been achieved, Rungainis recognizes in an interview to LNT broadcast 900 sekundes.

The state policy has been complicated because Latvia concluded a disadvantageous shareholders’ agreement, undermining its participation in the company’s development, the expert points out.

Asked about pensions, he points out that Latvia is in transition from the Soviet times. Over the past twenty years, Latvia’s residents paid pensions with their taxes to Soviet time pensioners who did not have their own savings.

The situation in recent years can be comparable to the one during the World War II, with hundreds of thousands of people leaving the country. Also, the demographic decline, unreasonable pension raise in «fat years», as well as the situation where some people receive very large pensions caused led to the current consequences in the pension area, the expert believes.

In his view, the demographic situation is also affecting the investment shortage in Latvia, as it is impossible to maintain an infrastructure that would interest investors. Likewise, there is a lack of qualified specialists. It seems that the state does not want these investments – the policy is not aimed at attracting the necessary money.


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