PM Kulbergs: airBaltic insolvency would be the worst possible outcome

The Latvian government has drawn up a plan to stabilize the financial situation of airline airBaltic. The plan involves postponing repayment of existing debts, or even forgoing repayment altogether, along with injecting new funding worth millions into the company.

In an interview with Latvian Television's program "de facto," Prime Minister Andris Kulbergs (AS) said that insolvency would be the worst of the possible outcomes for airBaltic, calling the current support plan the last chance to save the airline.

A shift in position

Just a few months ago, the political party Kulbergs represents opposed granting a state loan to the airline. Now, having taken on the role of prime minister, he has expressed a different stance, backing the government's rescue plan.

The source report does not provide further details on the exact amounts involved or the timeline for the proposed debt postponement and new funding.