airBaltic seeks state loan for fuel costs
airBaltic, the Latvian airline, needs a loan from the government. The loan is because of high fuel prices and the war in the Middle East. The Prime Minister says the government will help airBaltic temporarily.
airBaltic reported a 4% increase in revenue and reduced losses. However, they still need money to operate. The conflict in the Middle East is making fuel prices much higher. The government is considering a 30 million euro loan to help airBaltic. The Minister believes airBaltic will eventually get money from private investors and become a public company.
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Highlights
airBaltic Seeks Loan
airBaltic requested a loan from the Ministry of Transport because of high fuel prices.
Loan is Temporary
Evika Siliņa said the 30 million euro loan is a short-term solution.
Funding Shortfall Exists
airBaltic needs money despite increased revenue and reduced losses.
Private Investment Needed
Atis Švinka believes airBaltic should attract private investment.
Stock Exchange Listing Planned
The airline should eventually be listed on the stock exchange.