airBaltic to slash flights, seek new loan

  • 2012-02-22
  • From wire reports
RIGA - Latvian national airline airBaltic may need another 25 million lats (35.9 million  euros)  loan from the state to continue operations, LETA reported.Transport Ministry State Secretary Anrijs Matiss said the additional loan is necessary, taking into account that the airline’s private shareholder Baltijas Aviacijas Sistemas (BAS) has not paid its share of the previously agreed upon loan. The loan is necessary to ensure the continuing operation of the airline.At the beginning of March, the government will also review the airline’s business plan and discu...
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