EU approves AirBaltic €250 million bailout

The European Commission announced on July 3 that the Latvian government’s €250 million equity injection into AirBaltic was within state aid rules. In its ruling the EC pointed to the important role of AirBaltic in the Latvian economy, ensuring Latvia’s connectivity with other European countries. Martin Gauss, chief executive of AirBaltic said, “The European Commission has concluded that the increase in AirBaltic share capital will contribute to overcoming the economic consequences of the COVID-19 pandemic in the Latvian economy as a whole. At the moment, we are already on the path of recovery and we greatly appreciate Latvian society and