Company briefs - 2009-04-30

  • 2009-04-30
The Riga International Airport has completed a new tariff scheme by which rates are now the lowest in Northern Europe, the airport reported. New Transport Minister Kaspars Gerhards ordered that the airport introduce new tariffs that are in accordance with fair competition principles and are in line with the current economic situation in the country, the Transport Ministry said. It is planned that the tariffs could become effective as of November 2009 and remain unchanged for one year, after which their impact would be assessed. In line with the new regulations, airBaltic and Ryanair, which were granted 80 percent tax breaks at the Riga Airport, will lose their privileges and see their costs increase. The president of the airport Krisjanis Peters says he expects objections from Ryanair, but so far there have been no signs that the airline might consider leaving Riga.

Polish Oil Company PKN Orlen has announced that it will pay $227.56 million to the Lithuanian government by April 30 in line with the agreement by which it will receive the remaining 10 percent stake in Lithuanian oil refinery Mazeikiu Nafta. On March 27, PKN Orlen transferred the first installment of $56.89 million 's or 20 percent of the entire sum 's to an escrow account in SEB Bank.