Condor to launch direct flights to Sphinx International Airport
23rd May 2023
The chief executive officer of Latvian carrier airBaltic, Bertolt Flick, has announced he is stepping under the terms of a new rescue deal with the government. "The last few months have been very difficult for our company," said Flick in a statement. "For a long period of time, necessary decisions by the shareholders had not been taken until the situation was resolved. "As an owner and for the sake of airBaltic, I have agreed to step down, as the agreement between the shareholders so requires, for the future of the airline." On Monday, the government and airBaltic's management agreed a deal to refinance the airline with private shareholders, which included a $189-million injection from the government and the minority owner, Flick's Baltic Aviation System (BAS).