Latvian government to ask Saeima for right to support airBaltic with up to 30 million
After an extraordinary meeting, the Latvian Cabinet decided to ask the Saeima for permission to take part in raising additional financing for airBaltic of up to 30 million.
The Latvian government will ask parliament to authorise it to support airline airBaltic with additional financing of up to 30 million. Transport Minister Rihards Kozlovskis from the New Unity party told reporters after an extraordinary Cabinet meeting that the government plans to seek the Saeima’s permission.
The minister said the funding would be a reserve option to be used as a last resort. The Cabinet wants to have the legal basis to act if necessary. The request follows a discussion at an extraordinary government session.
Under the proposal, the government would be allowed to participate in attracting additional financing for airBaltic. No specific transaction has been announced, and the money would be available as a contingency measure.
Now the matter moves to the Saeima, where lawmakers will decide whether to grant the government the requested authority. The exact conditions under which the funding might be used have not been disclosed.
