Celebration at airBaltic: more millions received to avoid collapse at least until the elections 0 10

The ministry did not specify the interest rate on the loan, stating that it has been set in accordance with the methodology of the State Treasury and market conditions.

Gradual repayment of the loan is scheduled to begin on May 31. Full payment will be made by August 31 of this year.

According to the ministry, a working group established by the order of the Minister of Transport is overseeing the activities of "airBaltic," including the use of the loan.

As reported, on April 16, the Saeima approved the provision of a state short-term loan of 30 million euros to "airBaltic." The loan was issued without collateral.

The losses of the "airBaltic" group in the first quarter of this year amounted to 70.064 million euros, which is 2.4 times more than in the same period of 2025. The group's turnover increased by 12.3% to 149.086 million euros.

"airBaltic" explained that the size of the losses in the first quarter was influenced by fluctuations in foreign currency exchange rates, a reduction in commercial support, and ongoing cost growth pressures across several categories.

Last summer, the German airline "Lufthansa" became a shareholder of "airBaltic." Currently, the state owns 88.37% of the shares of "airBaltic," "Lufthansa" holds 10%, the financial investor Lars Tusen's company "Aircraft Leasing 1" owns 1.62%, and other shareholders hold 0.01%. The company's equity capital amounts to 41.819 million euros.