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Tuesday 23.05.2017 | Name days: Leontīne, Ligija, Lonija, Leokādija
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Terms for Montag-Girmess’ signing of airBaltic investment agreement remain unknown

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvian Transport Ministry, as a shareholder in airBaltic, has been prepared to carry out the signing of the investment agreement with German businessman Ralf Dieter Montag-Girmess since December 2015. However, the potential investor has yet to propose any specific dates for the signing of the contract, as reported by the ministry.

The ball, so to speak, is currently on the part of the field of the German investor. «TM is unable to comment on the investor’s actions in regards to the signing process,» – as noted by the ministry.

TM explains that the signing of the aforementioned investment agreement is planned to be finished in the near future. «As soon as there is information about the dates, we will announce everything a couple of days prior,» – adds the ministry.

Questions related to the procurement of Bombardier aircraft are within the competence of airBaltic. The airline has yet to provide any information regarding delayed payments for the ordered aircraft.

As it is known, airBaltic had reported in December 2015 that the investment agreement with Montag-Girmes would be signed in January of the following year. Prior to signing this agreement, airBaltic wished to resolve all matters with the Bombardier SC300 order.

CEO of airBaltic Martin Gauss explains that the company has managed to achieve significant results over the years. New investments will allow the company to focus on expanding and consolidating on the Baltic aviation market. The new capital will be used to invest in new aircraft, not in their rent. This will provide airBaltic an advantage in terms of costs, which is a major part of Horizon 2021 business plan.

Previously, TM state secretary Kaspars Ozolins explained that he does not believe the signing of the investment agreement with Montag-Girmes is delayed. TM representative also noted that the delay with the signing is not in any way tied to Ventbunkers’ extended investment offer.

Ref: 102.109.109.2783


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  1. Ilmars says:

    Ralf-dieter Montag-Girmess is a front man for the russian mafia. An internet search for his name gives a moscow phone number, as well as a history of shonky deals involving Cyprus banks.
    The Estonian and Lithuanian governments have closed their airlines down because they are non-viable.
    The Latvian government has been trying to flog Air Baltic off for years but no-one has been silly enough to buy a bankrupt airline. The only people they could find are a bunch of russian crooks, who want the Latvian government to put up another 80 million euros.
    The russian mafia are about to take latvian taxpayers to the cleaners -again- because the Latvian government are a bunch of economic hillbillies.
    Air Baltic should be closed down.

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  2. ikke48 says:

    I agree 200% with what Ilmars says: don’t trust Air Baltic, avoid buying tickets long time in advance, you never know… in fact: it is kept afloat by the Government since 10 years and should have been bankrupt LONG time ago

    Thumb up 0 Thumb down 0

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