Valainis: every Latvian resident has already paid €250 toward airBaltic's development
Economy Minister Viktors Valainis says the state has already invested in airBaltic an amount equal to €250 per Latvian resident, and future funding decisions must be weighed very carefully. He also criticized the airline's past governance and said a new action plan should lead to self-sufficiency.
Latvia's Economy Minister Viktors Valainis (Greens/Farmers Union) said on TV24's program "Ziņu TOP" that any decision on further state funding for national airline airBaltic must be considered very carefully, given how much public money has already gone into the company.
€250 per resident
To illustrate the scale of state support, Valainis converted the total investment into an amount per Latvian resident. By his calculation, every person in Latvia — from infants to seniors — has effectively already contributed around €250 toward the airline's development.
The minister argued that, given this figure, any additional state investment going forward would need a much clearer justification than before.
Criticism of past management
Valainis was critical of how airBaltic has been managed to date, saying the investments made in the company have not been matched by sufficiently good governance. In his view, this imbalance is part of why the current situation requires careful scrutiny.
Action plan aimed at independence
The minister said that after two months in office, the prime minister, together with the Transport Ministry, has presented an action plan that is now being implemented. Its results, and whether any further investment is needed, will have to be assessed later.
Valainis stressed that the main goal is for airBaltic to eventually operate independently, without relying on repeated injections of state funding.
Asked about bondholders and why they have not stepped in, the minister said that question should be put to the bondholders themselves.
