Originally Posted by
FlyingZiggy
Thanks all for your replies, appreciate it! :-)
As for me, the only numbers I have seen are the officially published ones - I have no inside knowledge either. As far as I remember though, a good part of their losses are not even their fault, for example the engine issues which have been a pain to many A220 operators.
I do not know how high their debt towards the latvian state is.
What seems odd to me is - why would they let an airline go bankrupt that is profitable to the state and that also helps out many other airlines with wet lease contracts?
You are welcome!
Malev airlines, the flag carrier of Hungary, operating for 70 years went bust for a debt of 130 millions when EU ordered state funds to be returned. Airbaltic debt is 570 millions to state.
It doesn't matter if it is their fault, in the video I uploaded there are some explanations but who cares.
Seeing the official numbers, it doesn't look profitable if they lost another 48 millions in 2024 so far
What do you mean seems odd let it bankrupt? Pump more money? Who is gonna do it? It is against EU regulations for the state to fund airlines. A private investor? If he buys the company, also buys the debts. Who will buy a business with 570 millions of debt and current losses?
Some other airlines would benefit in case of bankruptcy as 50 A220s would return to the lessor who would rush to lease them in a bargain price
Latvians taxpayers wouldn't have to fund further a state business. Population in Latvia is 1,8 million people, I don't think their economy can support throwing hundred of millions to state projects