bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Ceturtdiena 12.12.2019 | Name days: Otīlija, Iveta
LatviaLatvia

Antonov: 100 million lats enough to save airBaltic

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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

Latvijas Krajbanka owner Vladimir Antonov

An agreement to rescue the Latvian national airline airBaltic was reached mostly thanks to the fact that the state is its majority shareholder. Otherwise, it would hardly be possible, said Vladimir Antonov, Russian billionaire and the airline’s creditor Latvijas Krajbanka owner.

Talks were painful and lengthy, but thanks God, an agreement has been reached. For the most part, it is because the state is the biggest shareholder in the airline, he told in a press briefing on Monday evening.

According to him, the agreement is an important step for airBaltic to keep operating successfully. It will bring benefit not only to the state in general, but also to Riga as airBaltic base airport and Latvijas Krajbanka as the major creditor of the company, whose investments are now safe.

He added that airBaltic is currently settling all the payments according to the schedule and Latvijas Krajbanka has no objections for that matter.

Asked whether it will be enough with 100 million lats intended to save the airline, Antonov pointed out that the money is sufficient. Given the fact that it is going to be real funds to be injected, not, say, intellectual capital or something like that, it will be enough with theses funds.

According to Antonov, the agreement provides that from now on three persons will make up airBaltic board and the state will go on being the majority shareholder. While the council will consist of six members, with the state holding the majority as well. Asked whether specific board and council members are already known, he said that various candidacies were being discussed. All shareholders want a management model that would satisfy the state, the private shareholder and the creditors.

He denied Latvijas Krajbanka could purchase shares owned by its debtor Baltic Aviation Systems (BAS).

Antonov stressed that airBaltic fleet should keep modernizing, so that the airport could go on with its strategy and develop Riga as the regional base airport and service the transit passenger flow. airBaltic must not lose its competitiveness to Czech Airlines and Finnair also in future.

Similarly, he also denied that BAS had turned to Latvijas Krajbanka for funds to establish a new airline in Lithuania.

The news portal BNN reminds that Antonov has been in two minds whether airBaltic should be sold. He had announced previously that the company should not be sold, however, according to unofficial sources, after a secret meeting with Aivars Lembergs and his son Anrijs, he repeatedly pointed at the necessity to pass on the company in the hands of the private shareholder.

BNN already reported, the government approved at an emergency meeting the Transport Ministry’s prepared agreement on airBaltic‘s future funding and management. By signing the agreement, the state is securing effective control over the company, informs the Transport Ministry.

The agreement was signed between the Republic of Latvia, in the person of the Transport Minister, SIA Baltic Aviation Systems (BAS), AS Latvijas Krājbanka, AB Bank Snoras, AKB Investbank, Taurus Asset Management Fund Limited, Transatlantic Holdings Company S.A. and SIA KD Jet.


Leave a reply

  1. Darvin says:

    At last, someone comes up with the “right” ansewr!

Committee supports amendments that allow electing city council for longer

Saeima’s Public Administration and Local Government Committee has decided to support law amendments to allow electing Riga City Council for a term longer than five years.

Finland ends EU presidency with call to take free AI course

Finland is opening up a wildly popular Elements of Artificial Intelligence online course to all EU citizens. The announcement was made in Brussels on Tuesday to mark the approaching end of Finland’s presidency of the Council of the EU.

Latvian ministers agree on general sea port management reform

On Wednesday, 11 December, during an extraordinary meeting of the government dedicated to allowing the state to take over management of Riga and Ventspils freeport, ministers agreed on the necessity to implement a general reformation of management at Latvia’s various ports.

FKTK proposes isolating Lembergs and companies under US sanctions

Finance and Capital Market Commission invites financial market participants to refrain from providing financial services to suspended Mayor of Ventspils Aivars Lembergs, as well as companies and institutions applied with US sanctions, FKTK reports.

To take over Riga and Ventspils port government to form a separate company

On Wednesday, 11 December, the Cabinet of Ministers decided at an extraordinary meeting to invite the Saeima to add amendments to the Law on Ports to accommodate the plan for the government to take control over Riga and Ventspils freeports.

Estonia health body calls for measles vaccination of Ukrainian guest workers

Estonia’s health authority has issued a recommendation to employers working with Ukrainian guest workers to ensure the vaccination of their personnel against measles, pointing to critical situation in Ukraine.

In UN Court: Myanmar leader calls Rohingya genocide claims incorrect

In the International Court of Justice, Myanmar's leader Aung San Suu Kyi has been rejecting claims that her country’s military has been involved in allegations of genocide.

Family doctor visits may become more expensive for some residents in Latvia next year

Patient fees might increase or reduce next year. The latter may include more expensive family doctors visits: some residents may have to pay EUR 2 instead of EUR 1.42. The patient fee for specialist consultations will reduce.

20% of Riga Central Station design work for Rail Baltica is complete

Nearly 20% of Rail Baltica project’s design work on Riga Central Station has been completed. Construction company Bererix has closed off territory, railway, underground areas and other infrastructure for topographical and measuring work, as reported by Rail Baltica project’s representative Linda Vītola.

Fire in Tartu turns tragic to family

After a fire in Tartu, a family of five has been found dead, Estonian public broadcaster ERR reports.

Forecast: UK snap election to be won by Johnson’s Conservatives

In the United Kingdom’s snap elections, called to resolve the Brexit crisis, the victory of British Prime Minister Boris Johnson’s Conservative Party is forecast by British sociology centre YouGov.

Latvian government to decide on Riga City Council’s dismissal on 17 December

Latvia’s government plans to decide on Environment Protection and Regional Development Minister Juris Pūce’s initiated Riga City Council dismissal on Tuesday, 17 December, said Prime Minister Krišjānis Kariņš in an interview to LNT programme 900 seconds.

ReRe būve 1 hands over New Riga Theatre building to State Real Estate

On Tuesday, 10 December, construction company ReRe būve 1 handed over to State Real Estate the building of New Riga Theatre, as confirmed by VNI chairman Andris Vārna in an interview to Latvijas Radio.

U.S. bans Lembergs and family from entry in U.S. over «significant corruption»

The U.S. Department of State has introduced a U.S. travel ban on criminally-accused Latvian official Aivars Lembergs and his immediate adult family members over «involvement in significant corruption».

Latvian government supports reaching EU’s climate neutrality goal by 2050

Latvia’s government has agreed on support for European Union’s goal to become one of the main regions to have reached net zero level of greenhouse gas emissions or climate neutrality by 2050.

Estonian minister says Rail Baltica to be complete on time, despite scepticism

The Rail Baltica massive railway construction would be done by the 2026 deadline Estonian Minister of Economic Affairs and Infrastructure Taavi Aas has said despite scepticism expressed by MPs and Estonian Prime Minister.

Aivars Lembergs may be forced out of Latvian Olympic Committee

The topic of Aivars Lembergs’ dismissal from his post as member of the LOK Executive Committee may be brought up during the Tuesday, 10 December, meeting of Latvian Olympic Committee, BNN was told by LOK President Aldons Vrubļevskis’s press-secretary Mārtiņš Mālmeisters.

Latvian state to take over Riga and Ventpils ports

Latvian state will take over Riga and Ventspils ports, as confirmed by Prime Minister Krišjānis Kariņš.

Czech hospital shooting suspect found dead

Police in the Czech Republic has found dead the man suspected of a shooting attack that left six people dead in a hospital in the city of Ostrava.

Committee’s talks about electing Riga City Council for more than five years; decision postponed

After lengthy and heated discussions on Tuesday, 10 December, Saeima’s Public Administration and Local Government Committee decided to continue discussing amendments that would allow Riga City Council composed in snap elections to function for longer than five years.

Lithuania announces world’s first digital collector coin

The Bank of Lithuania has announced it would issue a blockchain-based digital collector coin in 2020, as it seeks to attract fintech investors and give new impetus to numismatics in the Baltic country.

Aivars Lembergs leaves Ventspils Freeport board

Aivars Lembergs, who has been added by USA to its black list, has decided to leave his post at Ventspils Freeport board, according to his update on Twitter.

Shooting in Czech hospital. Gunman wanted

In the Czech Republic six people have been killed on Tuesday, when a gunman opened fire in a hospital, according to Czech Prime Minister Andrej Babiš.

Unemployment level in Latvia increases to 5.8% in November

At the end of November, unemployment level in Latvia was 5.8% of the economically active population, which is 0.1 percentage point more than a month prior, according to data from the State Employment Agency.

Lembergs avoids giving a clear yes or no to stepping down from Ventspils Freeport board

Aivars Lembergs, who is accused of committing serious crimes, avoided giving a clear yes or no in regards to the possibility of stepping down as chairman of Ventspils Freeport board, according to what he said at a press-conference on Tuesday, 10 December.


Do NOT follow this link or you will be banned from the site!