airBaltic Investor Agreement Signed

Published on : Thursday, February 4, 2016

airBaltic_logoToday an agreement was signed between the Latvian government and Ralf-Dieter Montag-Girmes. Under the deal, a total of EUR 132 million of fresh capital will be invested in the Latvian carrier for fleet modernisation and its new Horizon 2021 business plan.

 

Ralf-Dieter Montag-Girmes, German investor: “airBaltic is an outstanding carrier in a unique market niche with Riga as its main hub in the Baltics and excellent future opportunities in Tallinn and Vilnius – I am delighted that we have now finalised the agreement and can proceed with the growth scenario of airBaltic.”

 

Kaspars Ozoliņš, State Secretary of the Ministry of Transport: ‘The new equity will be used for investing into new aircraft rather than leasing them, thus giving airBaltic an advantage on the cost side and improving passenger experience. This will further enhance the connectivity of Latvia, support economic growth and create new jobs.’

 

In November 2015, the Latvian Cabinet of Ministers approved the plan to sell 20% of airBaltic to the German investor Ralf-Dieter Montag-Girmes for EUR 52 million and agreed to invest a further EUR 80 million in the airline. Under the deal, the German investor will hold 20% of shares in the carrier, while the remaining stake will be held by the Latvian government.

 

The investment and the increase of the equity of airBaltic were backed by the Parliament, the Saeima, on December 3, 2015. The Saeima approved the deal under the condition that airBaltic and its affiliated companies are prohibited from purchasing, renting or otherwise utilizing equipment produced by military industrial complexes and their affiliates subject to sanctions imposed by the European Union or the international community and are ratified by Latvia.airBaltic serves over 60 destinations from its home base in Riga, Latvia. From every one of these locations, airBaltic offers convenient connections via Riga to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. In addition, airBaltic offers new direct flights from Tallinn and Vilnius.

 

Source:-airBaltic

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM 2017
  • 03 EMITT 2018
  • 04 AIME-2018 small
  • 05 iitmindia 2017
  • 06 imtm 2018
  • 06 TTF-Surat 2017
  • 07 balttour 2018
  • 08 OTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com