The Latvian government will have to relinquish its controlling stake in the national air carrier, airBaltic, “sooner or later,” Prime Minister Evika Silina said, LETA reports. The government wants airBaltic to operate more on market principles, she stated. If airBaltic’s planned IPO fails, the government will make a “separate decision” on the company’s future, Silina…
The Estonian-Finnish undersea power cable, EstLink 2, will resume operations after repairs on 4 September 2024, BNS reports. The power interconnection was shut down due to a fault in late January 2024. The repairs involved replacing around 300 metres of cable and connection joints. Shore reinforcement and surface works and removal of temporary structures will…
Estonia has officially joined the European Organization for Nuclear Research (CERN) as the organisation’s 24th member state, Estonian World reports. Estonia applied for CERN membership in 2018. Estonia signed the first cooperation agreement with CERN in 1996 and gained associate member status in 2021. As a full member state, Estonia will have voting rights in…
The average monthly wage in the Baltic States rose the fastest in Lithuania in 2023, according to research agency Figure Baltic Advisory’s study, LETA reports. The average wage rose by 8.8% in Lithuania, 8.2% in Latvia, and 7.3% in Estonia over a year. The agency projects that the monthly basic salary will rise by 6.3%…
Lithuanian courier company DHL Lietuva has confirmed that packages that caused a fire at warehouses in Germany were sent from Lithuania, LRT reports. Mindaugas Pivoriunas, managing director of DHL Lietuva, revealed that there had been two such incidents. He said that the company had updated its security protocols and procedures. The two parcels sent from…
The number of non-cash payments executed in Latvia totalled 395 million in the first half of 2024, which was 6% more than in the same period of 2023, according to the Bank of Latvia, LSM reports. The value of all non-cash payments totalled EUR 491.8bn, which was up by 226% over a year. The volume…
Latvia’s national air carrier, airBaltic, may have to delay its planned initial public offering (IPO) until the first half of 2025 amid investor worries about the aviation industry’s profitability, CEO Martin Gauss said, traders.lt reports. The company plans to raise as much as EUR 300mn through the IPO planned for later in 2024, BNN Bloomberg reports….
The new strategic investor in Latvia’s national air carrier, airBaltic, will be “a big positive surprise,” CEO Martin Gauss stated, LSM reports. He said that the identity of the investor would indicate that airBaltic was “recognised internationally as a serious airline.” Also, the investor would welcome the continued shareholding of the Latvian state in the…
Lithuania’s Vilnius Regional Court has postponed sentencing in the criminal case against the former owners of the now liquidated Snoras bank, Vladimir Antonov and Raimondas Baranauskas, until 5 November 2024, BNS reports. The Prosecutor General’s Office asked for both to be sentenced to 10.5 years in prison. The pretrial investigation lasted over 7 years, from…
