The Latvian government intends to take Air Baltic under the wings with a further 90 million euros. The Council of Ministers took the relevant decision on Tuesday. The approval of the EU Commission has yet to be obtained.

The carrier is majority-owned by the state and is now to receive equity capital. This is to be repaid through the sale of shares as part of a planned IPO. In the previous year, Air Baltic received state aid approved by the EU Commission due to the corona pandemic.

"The support of our majority shareholder in overcoming the crisis reflects the recognition of the positive effects Air Baltic has on the economy," explains company boss Martin Gauss.