President promulgates law on airBaltic financial stabilization measures

Latvia's President Edgars Rinkēvičs has promulgated a law introducing financial stabilization measures for the national airline airBaltic. The Saeima, Latvia's parliament, adopted the law under an urgent procedure on August 20 this year.

The promulgation marks the final stage of the legislative process, meaning the law will soon enter into force and allow the planned measures to strengthen the airline's financial position to be implemented.

The fact that the Saeima reviewed the bill under an urgent procedure points to the pressing nature of the issue and the need to quickly establish a legal basis for airBaltic's financial stabilization.