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Friday 20.10.2017 | Name days: Leonīda, Leonīds
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Transport Minister wants Flick to reveal his cards

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU

Transport Minister Uldis Augulis

In a closed session on September 20, the govenrment of Latvia decided to ask Baltic Aviation Systems (BAS), the private shareholder of the national airline airBaltic, to unveil all the true beneficiaries, Uldis Augulis, Transport Minister, told the news broadcast Labrīt Latvija!.

“We must be sure that people who are behind the private company actually have the financial means to inject in airBaltic. We must be sure that it does not turn out that the state invests money, while the other party fails to do it,” Augulis said. According to him, it is not easy for the government, because it is taxpayers’ money that’s at stake.

“Show us your true owners, so that we can assess whether they are reliable people and if they have money enough,” Augulis addressed BAS.

Last week there appeared a version that a firm registered in Luxemburg Transatlantic Holdings Company paid for 11% of airBaltic shares. The company is affiliated with the Russian millionaire Vladimir Antonov. Augulis believes that it is necessary to find out the intention of people behind these plots. He assumes that the private shareholder could speculate with the situation to make the state invest its funds as soon as possible.

Hover given the current situation in the airline, this is not the right moment for the government to sell its shares. Augulis points out that if the partners fail to meet requirements and no agreement is reached, the government will have to decide on its further action.

airBaltic business plan has planned profit in 2010 and 2011. Back then, the government did inject funds but it simply cannot go on forever,” Transport Minister said.

According to Augulis, no clear answer was provided as to why the private shareholder cancelled airBaltic flights. “Neither did the explanatory letter present any reasonable figures for such a move,” he added.


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  1. Gastons says:

    No more public money for the lame duck It up to private holders to deal with it The Latvian governement has to sell its shares for one lat Thus the money saved will find more usefull purposes in health care and education.

    Thumb up 0 Thumb down 0

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