Latvian ministers informally discussed the possibility of cancelling the Rail Baltica railway project but decided against such a move, Prime Minister Evika Silina revealed, LETA reports. Speaking in an interview with TV3, Silina said that the government concluded that abandoning the project would result in a significant loss of invested resources. Moreover, the project will…
Estonia’s state-owned Nordic Aviation Group (NAG) has filed bankruptcy applications for the Nordica and Regional Jet (Xfly) airlines, ERR reports. NAG decided to file for bankruptcy after Danish entrepreneur Lars Thuesen, minority shareholder of Latvia’s national air carrier, airBaltic, announced that he would not acquire Nordica due to the high business risks involved. Earlier, Nordic…
Estonia’s Minister of Regional Affairs and Agriculture, Piret Hartman, is visiting India to promote bilateral trade, BNS reports. She is accompanied by a business delegation of several leading Estonian food and beverage companies. Hartman noted that Estonia was already exporting cheese to India, but suggested that there was also potential for exporting other dairy products,…
Latvia needs to set a maximum price cap on the Rail Baltica railway project, Prime Minister Evika Silina stated, LETA reports. Speaking at a meeting of a parliamentary committee of inquiry on the project, Silina stressed that the biggest problem right now was funding. She said that the Ministry of Transport was “painting visions” and…
Estonia’s Ministry of Regional Affairs and Agriculture has established a task force to consider a possible new location for Tallinn Bus Station, ERR reports. One potential location could be next to the future Rail Baltica railway terminal in Tallinn’s Ülemiste district. However, Hannes Luts, chairman of the task force, noted that the area was mostly…
Estonia’s Defence Ministry sees no need to halt the development of wind farms off the Estonian coast, Defence Minister Hanno Pevkur announced, ERR reports. He insisted that air and maritime surveillance issues related to offshore wind farm projects were manageable. Pevkur assured that concerns expressed by the Estonian Defence Forces (EDF) over the negative impact…
Latvia’s national air carrier, airBaltic, has drawn up a plan to resume flights to Ukraine as soon as it is safe to do so, Ukrainska Pravda reports. Speaking in an interview with Bloomberg, airBaltic CEO Martin Gauss said that the company planned to divert aircraft from other routes and implement overnight stops in Ukraine. He…
Latvian monetary financial institutions (MFIs), mainly banks, generated total profits of EUR 461.7mn in the first ten months of 2024, which was down 22.6% from EUR 596.2mn in the same period of 2023, according to data from the Bank of Latvia, LETA reports. The total assets of MFIs amounted to EUR 29.23bn at the end…
The crash of Spanish air carrier Swiftair’s cargo plane in the Lithuanian capital, Vilnius, on 25 November 2024 may have been caused by a technical fault or pilot error, LRT reports. One crew member perished in the incident. Surviving crew members had no indication of foul play, and investigators have found no evidence of terrorism….