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29-Sep-2010 10:36 AM

CEO to consider buying state shares in airBaltic

airBaltic CEO Bertolt Flick is reportedly “ready” to purchase the Latvian State’s 52.6% shareholding in airBaltic (Baltic Course, 28-Sep-2010). Mr Flick, through his holding company Baltijas Aviacijas Sistemas (BAS), holds the remaining 47.2% of the airline. According to Mr Flick, his recent announcement outlining plans to create an LCC in neighbouring Lithuania has necessitated that the Latvian State establish its commercial strategy regarding the airline over the medium-term. He said China's Hainan Airlines has expressed an interest in acquiring the State’s interest in the airline.

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