We must involve Lufthansa more in talks about airBaltic's future - Valainis

RIGA - airBaltic’s strategic investor, Lufthansa, should be more actively involved in the airline’s future financing and management, said Viktors Valainis, Minister of Economics and the Union of Greens and Farmers candidate for prime minister, in an interview on LETA’s pre-election broadcast called What Was That All About?

"We already have a strategic investor - one of the world's largest airlines, with a ten percent stake in this company. That is exactly who we need to talk to," said Valainis.

In his view, Lufthansa’s resources, expertise, and ability to assist airBaltic are greater than those of the Latvian government. Therefore, the strategic investor cannot remain a passive observer.

"If they benefit from our fleet, then they, too, must sit down with us as a strategic investor and discuss how to develop the company in the future," said the politician.

Valainis believes that the prime minister should lead the talks with lenders and investors.

"The prime minister must make it clear that we truly want this airline, that we want it to remain here, and that we, as a country, stand behind this business plan," he said.

At the same time, the Greens/Farmers did not support the government's proposed financial stabilization plan for airBaltic in the Saeima. Valainis explained this by citing the need to change the company’s current direction of development.

"We made it clear that we will not invest public funds here," emphasized the Greens/Farmers candidate for prime minister.

In his view, the state should bring the company’s lenders to the table and agree on terms that would make it possible to implement a new business plan. Valainis also criticized the rhetoric of public officials, which, in his view, has given international creditors the impression that the state no longer stands behind the company.