bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Sunday 15.07.2018 | Name days: Henriks, Henrihs, Egija, Egmonts, Egons
LatviaLatvia

Terms for Montag-Girmess’ signing of airBaltic investment agreement remain unknown

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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


Leave a reply

  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.

  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

Week in Lithuania. Lithuania's Tripartite Council fails to reach agreement

Lithuania's Tripartite Council on Tuesday, July 10, failed to reach agreement on raising the minimum wage. Employers are inclined to back the government's proposal to raise the minimum pay to 420 euros. Meanwhile, trade unions want it increased to 450 euros.

BNN summary of the week: NATO to increase and ABLV Bank loses its license

BNN offers a summary of this week’s topical news in a variety of categories: Future; Deal; Fight; Decline; Decision; Opinion.

SEB Bank to unite life insurance companies working in Baltic States

SEB Bank will unite life insurance companies working in Baltic States, BNN was told by SEB Bank’s representative Agnese Strazda.

Saeima deputy Askolds Kļaviņš becomes suspect in criminal case

Saeima deputy from the Union of Greens and Farmers Askolds Kļaviņš has been made a suspect in the criminal case regarding abuse of official power.

Minister: E-health system has stabilized, but improvements are still needed

Functionality of the E-health portal has stabilized. Disconnection errors have ceased. Nevertheless, we have to continue improving the system further, said Latvian Healthcare Minister Anda Čakša said in an interview to Rīta panorama programme of LTV.

Six to eight Finance and Capital Market Commission officials may work at ABLV Bank

Six to eight FCMC trusties may work at the liquidated ABLV Bank, says Finance and Capital Market Commission chairman Pēters Putniņš.

Latvia’s Cabinet of Ministers receives expanded draft on deposit system

Environment Protection and Regional Development Ministry has submitted to the Cabinet of Ministers an expanded legislative draft regarding amendments to the Packaging Law and Environment Protection Law for their review in the State Chancellery, as confirmed by the ministry’s representatives.

Latvia will not escape talks on increasing defence spending

It is necessary to develop Latvia’s defensive capabilities. Because of that, Latvia cannot escape talks on increasing defence spending to more than 2% of GDP, said Defence Minister Raimonds Bergmanis, who is participating in the NATO summit in Brussels.

Russia extends food product embargo until end of next year

On Thursday, 12 July, Russian President Vladimir Putin decided to extend the embargo on food product imports from countries of the European Union and other countries until the end of next year.

Heat in Latvia to remain for longer; thunderstorms and heavy rain expected, as well

Next week in Latvia will be appropriately hot for summer, as air temperature is expected to reach +30° C at times. Nevertheless, most of Latvia will experience rain and thunderstorms, as reported by State Environment, Geology and Meteorology Centre.

US President announces «tremendous amount of progress» in defence spending matter

On Thursday, 12 July, US President Donald Trump announced having achieved a great deal of progress in the NATO member states’ defence spending matter during the summit.

Providus: it is impossible for Latvian parties to attract large funding honestly

«If we look at political parties’ ability to attract funding from large companies, for example, conclusions are rather sad – there is no way for parties in Latvia to attract funding in an honest way,» Providus think tank researcher Iveta Kažoka said in an interview to BNN.

Study: Latvian residents rely on knowledge and hard work rather than luck

30% of Latvia’s residents believe company success formula relies on decade-long work and significant profits, as well as employee satisfaction, according to the latest Latvian Barometer study of Baltic International Bank.

Competition Council warned 34 persons for possible cartel agreements this year

In the first half-year of 2018 the Competition Council warned 34 persons about possible cartel agreements in six possible violation episodes. Affected companies work in three sectors – burial, security and driving school services.

European Commission predicts 9% lower wheat harvest for Latvia this year

According to estimates from the European Commission, Latvia’s wheat harvest is likely to be 9% below that of last year, according to information from Agriculture Ministry’s Market and Direct Support Department.

ECB revokes Latvian ABLV Bank’s credit institution license

European Central Bank has decided to revoke Latvian ABLV Bank’s license, as confirmed by Finance and Capital Market Commission.

US President asks allies to increase defence expenditures to 4% of GDP

During NATO summit in Brussels US President Donald Trump told leaders of participating member states that they have to increase their expenditures on defence to 4% of GDP.

NATO agrees to station multinational division North headquarters in Latvia

In accordance with an agreement reached by Denmark, Latvia and Estonia, it has been decided to station the headquarters of NATO’s multinational division North at Ādaži base, as confirmed by Latvia’s Foreign Affairs Minister Edgars Rinkēvičs.

President vetoes two bills over consecutive days, still enjoys high support

Lithuanian President Dalia Grybauskaitė has used her presidential powers in full swing this week, vetoing two bills over two consecutive days. First the head-of-state vetoed amendments paving the way for a far-reaching overhauling of the country‘s healthcare facilities. And the next day, on Wednesday, July 11, she scrapped amendments to the Referendum Law, which, if implemented, would have lowered the threshold for a dual citizenship referendum. President cautioned that the bill was potentially not in compliance with the Constitution.

Competition Council permits merging of two energy wholesale traders and producers

On 4 July, Latvia’s Competition Council decided to permit the merging deal as a result of which Enefit Green AS will gain decisive influence over Nelka Energia AS by purchasing 100% of the company’s shares. Permission was given because the merge is not expected to have a major impact on competition on the market, the council explains.

Riga mayor’s Ligo congratulation cost taxpayers more than EUR 15,000

The broadcast of Riga Mayor Nils Ušakovs’ Ligo congratulation by media cost EUR 15,211, as confirmed by Riga City Council deputy Vilnis Ķirsis.

Police requested prosecution for 50 insolvency administrators in past several years

Since 2016, Latvia’s State Police have received several hundred reports regarding possible illegalities during insolvency processes. Over the course of the last two years, police have asked the prosecutor’s office to commence criminal prosecution of 50 insolvency administrators.

External trade turnover in Latvia grew 9.6% in May

In May 2018 foreign trade turnover of Latvia amounted to EUR 2.32 billion, at current prices constituting 9.6 % more than in May 2017, of which exports value of goods rose by 8.5 % and imports value of goods by 10.4 %.

Will funding volumes remain the same for culture after Latvia’s centenary?

Latvia should continue investments in Song and Dance Celebration infrastructure, said Culture Minister Dace Melbārde in an interview to LNT.

Prosecutor’s office ends case on OCMA official’s involvement in fictive marriage organization

The Prosecutor General’s Office has ended the case launched against and official of the Office of Citizenship and Migration Affairs, who was allegedly involved in organization of fictive marriages, as reported by LNT News on Tuesday, 10 July.