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On Thursday, 3 December, the Saeima agreed to increase the equity of joint stock company “Air Baltic Corporation”. The proposal was adopted with 45 votes for, 13 against and 2 abstaining.

Thus, the Saeima has authorised the Minister of Finance to increase the appropriation for the Ministry of Transport up to 80 million euros. The appropriation is to be financed from general revenues and will be used to increase the equity of joint stock company “Air Baltic Corporation” after signing of the shareholders’ agreement. The appropriation is needed to ensure further development of the national airline.

In its decision the Saeima s specifically emphasises that the transaction must not leave a negative impact on the balance of the general budget.

Furthermore, it is clearly stated in the decision that “Air Baltic” and its affiliated companies are prohibited from purchasing, renting or otherwise utilizing equipment produced by military industrial complexes and their affiliates subject to sanctions imposed by the European Union or the international community and ratified by Latvia.

The Budget and Finance (Taxation) Committee of the Saeima put the decision up for examination at the Plenary Sitting, with reference to a letter from Jānis Reirs, Minister of Finance. 
 

Saeima Press Service