airBaltic shareholders agree to inject over EUR 150 million

3rd Oct 2011
airBaltic shareholders agree to inject over EUR 150 million

Today the shareholders of Latvian national airline AirBaltic agreed in their meeting to finalise technical details until October 4 for the injection of EUR 153 million in new capital financed by its two main shareholders, the Latvian government and Baltic Aviation Systems (BAS).

It was announced this Tuesday that the government of Latvia and BAS reached agreement and would jointly inject the capital into airBaltic. The Latvian government will secure EUR 81.9 million (LVL 57.6 million), while the private investor BAS will secure EUR 71.1 million (approximately LVL 50 million).

Today’s shareholder meeting has taken a formal pause and will continue on October 4 to finalize the capital increase, after the technical details are fully agreed by the shareholders.

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