Latvian national carrier eyes 100 mln euros in state aid

Latvian national carrier airBaltic may seek state aid of E50-100m this year, due to the consequences of the pandemic, the carrier said in its annual report published on Thursday. It said uncertainty around when pandemic-related curbs on travel will be lifted and whether the group raises cash for its operations “represent a material uncertainty which may cast significant doubt upon the Company’s and the Group’s ability to continue as a going concern”. airBaltic last year received a E250m injection from the state, which holds 96% of the company’s shares. It reported a loss of E265m last year, with revenues dropping by 72% from 2019, to E143m. “The Management believes that the arguments which justified the (previous) investment are still valid and would justify additional investment”, the group said in the report.<br/>