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The investment plan, which remains subject to European Commission approval, will be done in tranches, and will increase Latvia’s stake in airBaltic to 91% from the current 80.05% if carried out in full.
“The investment by the government will allow the company to overcome the emergency situation and will enable it to develop by retaining its competitiveness,” Latvian transport minister Talis Linkaits said at a news conference on Thursday.
