50 SKY SHADES - World aviation news

European Commission Approves airBaltic Equity Increase of 250 Million Euro

Download: Printable PDF Date: 05 Jul 2020 03:30 categories:
Publisher:
European Commission Approves airBaltic Equity Increase of 250 Million Euro - Airlines publisher
Dana Ermolenko
Country: Latvia Aircraft: Airplanes Airline: Air Baltic

The European Commission on July 3, 2020, under EU State aid rules, has approved the Latvian government's investment of €250 million into the equity of the Latvian airline airBaltic to contribute to overcome the economic crisis caused by COVID-19 and resume growth.

The European Commission points out that EU Member States introduced various travel restrictions in the second quarter of the year to limit the spread of COVID-19. This had a significant impact on the entire aviation industry, including airBaltic. The European Commission also points to the important role of airBaltic in the Latvian economy, ensuring Latvia’s connectivity with other European countries. 

Martin Gauss, CEO of airBaltic: “The European Commission has concluded that the increase in airBaltic share capital will contribute to overcoming the economic consequences of the COVID-19 pandemic in the Latvian economy as a whole. At the moment, we are already on the path of recovery and we greatly appreciate Latvian society and the government’s confidence in the future of the airline. airBaltic management and employees have shown their dedication to the company and to the Baltics by leading the airline through this crisis.”



Loading comments for European Commission Approves airBaltic Equity Increase of 250 Million Euro...


Recommended

First EH216 trial flights over the Sea of Southern China completed

EHang recently successfully completed the first trial flights of EH216 over the sea of Southern China. The flights started from Hengqin New District and ended in Dong Ao Island in Zhuhai City. Dong...

BAA Training one of the first in Europe to implement Area 100 KSA

BAA Training is one of the first aviation training centers in Europe to start Ab Initio pilot training with integrated Area 100 KSA. The acronym stands for „Knowledge, Skills and Attit...

Restore the freedom of movement - Europe travel & tourism sector calls on EU governments

The European Tourism Manifesto alliance, a group of more than 60 public and private travel and tourism organisations and the voice of the sector in Europe, today unveiled a series of joint recommendat...

Committed to the sky: next FACC decade with a new strategy

The world will face major changes in the coming years. Global megatrends will permanently change the aviation industry and our society. The market for civil passenger aircraft will continue to experie...