airBaltic secures €90 million of state aid

Latvian airline airBaltic has been approved to receive an investment of €90 million into the equity of airBaltic by its majority shareholder the Cabinet of Ministers of the Republic of Latvia. The new funds are to “compensate the losses caused by the ongoing COVID-19 pandemic and to support overcoming the economic crisis”. The loan is now subject to the approval of the European Commission. Martin Gauss, Chief Executive Officer of airBaltic said: “The support of our majority shareholder to overcome the crisis reflects the recognition of the positive impact airBaltic has on the economy.” airBaltic has positioned as a major