Saeima committee conceptually backs state role in stabilizing airBaltic finances
The Saeima's Budget and Finance Committee on Wednesday gave conceptual support for possible state involvement in stabilizing airBaltic's finances, including purchasing bridge-financing bonds and capitalizing existing ones.
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The Budget and Finance (Tax) Committee of the Latvian parliament, the Saeima, on Wednesday conceptually approved the possibility of state involvement in stabilizing the finances of national airline airBaltic.
Under the proposal discussed by the committee, the state could purchase up to 30 million euros worth of airBaltic's bridge-financing bonds. In addition, the capitalization of the company's existing bonds, worth 50 million euros, is being considered.
The committee's decision is conceptual for now, meaning political support for the general direction, while a final decision on the state's actual involvement and the scope of funding still needs to be made in the further process.
airBaltic has received state support on multiple occasions in recent years to ensure its financial stability and continued operations.
