EC gives approval to EUR 11.6 million support measure by Latvian state to airBaltic

• Published date: 24 May 2022
• Publication title: LETA

RIGA, May 24 (LETA) - The European Commission (EC) has approved a EUR 11.6 million aid measure by Latvia to compensate national airline airBaltic for the damage caused by the Covid-19 pandemic.

The press office of the EC Representation in Latvia informed LETA that the EC has established that the Latvian aid measure in the amount of EUR 11.6 million to compensate for the damage caused by Covid-19 is in accordance with the European Union (EU) regulations on state aid.

The purpose of this measure is to compensate the airline for the losses incurred from June 16, 2020 to June 14, 2021 due to the Covid-19 pandemic and travel restrictions imposed by Latvia and other countries. airBaltic suffered significant operating losses and experienced a sharp decline in traffic and profitability during this period, according to the EC.

This measure complements other...