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Sunday 25.02.2018 | Name days: Alma, Annemarija
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Riga Airport and airBaltic reconciliation shows signs of scheming

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe court process between airBaltic and Riga International Airport is planned to conclude with reconciliation. The amount of money aimed to be allocated as a result of reconciliation between the two may exceed the amounts the two sides had originally intended to collect from one another, according to information from Pietiek.

In the reconciliation project proposed by airBaltic’s lawyers, the plea to collect EUR 14 million from Riga Airport is no longer a requirement. Lawyers had originally requested this amount to be collected from Riga Airport in response to unfairly high prices the airport had allegedly set for its services for airBaltic while offering notably lower prices to the Irish Ryanair. Magnuson law firm’s compiled reconciliation agreement is based on calculations compiled by Ernst&Young about possible profits airBaltic would have had of Ryanair had not entered Riga Airport in 2004.

According to Pietiek, some informed sources in Transport Ministry have confirmed that the losses airBaltic had allegedly suffered as a result of Riga Airport’s discriminating price policy are estimated at EUR 120 million. The possible amount planned for the reconciliation agreement between airBaltic and Riga Airport is unknown, because talks still continue. On top of that, TM officials had previously said that a reconciliation agreement will only be achieved in the courtroom. Suspicions of scheming in this case had only increased after it was quietly transferred for review to Latgale Regional Court in Rezekne. The reading of this case is scheduled for May 21st.

A peaceful resolution of this conflict may serve as legal grounds for an inflow of finances into airBaltic. This agreement is also believed to be part of a larger cooperation scheme by the airline, its former shareholders and the state. This is allegedly aimed to relieve the airline from all troublesome court processes and make the attraction of an investor possible. Peaceful resolutions of litigations involving Bertolt Flick’s Baltijas aviācijas sistēmas, the liquidated Latbijas Krājbanka’s insolvency administrator KPMG Baltics and airBaltic have been reached in recent weeks.

According to information from Pietiek, airBaltic’s Chairman Martin Gaus had informed Transport Minister Anrijs Matiss before Easter that he does not agree with the counter-claim against airBaltic, which requests more than EUR 16 million as alleged debt to Riga Airport for the services it had provided to the airline. airBaltic, on the other hand, requests more than EUR 14 million from the airport for its alleged abuse of dominating position in the market, specifically the setting of discriminating high prices for airBaltic and low prices for the Irish Ryanair.

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