“The company needs to make very radical decisions to reduce costs and increase its profitability. And until such guarantees are in place, I believe it would be irresponsible to make any generous promises – until we see how the company will be revived (...) from the ashes and ensure its profitable operations,” said Nausėda to reporters on Friday in Vilnius. “We need to assess all financial aspects, all associated risks, as the company's situation is challenging,” said the head of state in response to a question about whether Lithuania should consider a proposal to acquire shares of Air Baltic if such a proposal is made. Prime Minister Mindaugas Sinkevičius said on Wednesday in Riga that if a proposal were made by Latvia, Lithuania would consider the possibility of acquiring a stake in Air Baltic, but taking into account all arguments and, above all, its own interests. Earlier this week, Lithuanian Minister of Transport Jaroslav Narkevich explained to BNS that even if a proposal to acquire a stake in the company were made, he would not support it, as it would be an emotional step. The Latvian Parliament on Thursday generally approved the possible participation of the state in ensuring the financial stability of Air Baltic, including the acquisition of interim financing bonds amounting to up to 30 million euros and the capitalization of existing bonds by 50 million euros. Latvian Prime Minister Andris Kulbergs stated this week that there is one last chance to save Air Baltic.
