Airport, Brands, Latvia, Transport

Kaspars Gerhards and Valdis Zatlers. Riga, 19.08.2010.

After Nozare.lv reminded that airBaltic President Bertolt Flick had clearly indicated that the company's financial situation did not allow the immediate return of the brand, Gerhards explained that the essential aspect here was the company's "various directions of development"; however, it was clear that the airline's financial situation in the second half of the year was better than in the first, as is usually the case for any airline. In terms of the return of the brand, the more pressing question was the matter of planned changes to the airline's fleet of aircraft, according to the minister.

Predicting the time period for the return of the brand, Gerhards announced that he saw this taking place in the near future, rather than in several years' time, adding that Flick had made clear his readiness to go through with this. According to the minister, there are a range of factors which would enable the returning of the brand in the very near future, writes LETA.

Gerhards explained that agreement had been reached with Flick that "the legal and financial issues should be resolved as quickly as possible so that we can complete the agreement on paper".

As reported, Flick recently indicated that it would not be possibly to return the airline's brand immediately, as the capital received by the airline through the deal was necessary to ensure financial backing for the acquisition of several new aircraft, for which certain minimum financial figures were required.