European Commission approves €45 million airBaltic bailout

airBaltic Airbus.
airBaltic Airbus. Source: airBaltic

The European Commission has approved €45 million in support for Latvian national carrier airBaltic, the English-language page of public broadcaster LSM reports.

The figure is half the figure the Latvian government requested, in order to mitigate the effects of the Covid pandemic and the ensuing economic crisis, LSM said.

The Latvian cabinet approved a €90 million bailout in August this year; the second half of this is still pending European Commission approval, airBaltic says.

airBaltic, which reported a 73 percent fall in passenger numbers in 2020, had already seen its fixed capital boosted by €291 million by the Latvian government.

Such subsidies, under EU law, require a green light from the European Commission – last year a €30 million package for Estonian carrier Nordica was approved.

The original LSM article is here.

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Editor: Andrew Whyte

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