Latvian Political Monitor

From@dblv

Kulbergs: airBaltic's 257 million euro financing shows private investors' trust in the strategic plan https://t.co/VXyu1eG4Bu

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From@janiscir

@guntarsv @lifesound22 @E_Stendzenieks I tried various ways, but with those poor 30m + bond conversion I just can't get the state to retain 25%+1 share. I get 10-15% (depending on how winter goes and how successfully they get rid of the planes). Do your models really show that the state will retain a significant stake? 🙂

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From@AndrisKulbergs

As of today, AirBaltic will have to start flights to Colombia and back in order to cover the 14.5% loan interest payments of ~€50 million per year. This payment will eat up all profits earned this year and next year. At the end of the year, the result will be negative profit, which is a very unfavorable circumstance for conducting the IPO process, which is planned by November this year. This whole saga with the refinancing of the €200 million bond would not have happened if Kariņš had not shut down flights for 61 days as the only airline in the EU (that cost -€200 million) and had used the special COVID circumstances when EU countries were allowed to support their airlines and money cost almost nothing. Now we all see the price of these unaccepted, botched decisions. Last week's €136 million state injection into bonds + we give €50 million of profits to 'junk bond' speculators, we risk €/$ exchange rate fluctuations (because planes are leased in $), we enter the IPO with a negative story and losses in the 2024 balance sheet. I say that unfortunately this is not the last time the state will have to prop up AB. I want to hear an explanation from @Briskens soon in the @Apvienotais_ faction about further plans, so that this time we don't have to save headlong without information and a Plan B. #airbaltic

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From@AndrisKulbergs

AirBaltic from today will have to start flights to Colombia and back, in order to cover the 14.5% loan interest payments of ~€50 million per year. This payment will eat up all earnings this year and next year. At the end of the year the result will be negative profit, which is a very unfavorable circumstance for the IPO process, which is planned by November this year. This whole saga with the refinancing of the €200 million bonds would not have happened if Kariņš had not shut down flights for 61 days as the only EU airline (that cost -€200 million) and used the special COVID circumstances when EU countries were allowed to support their airlines and money cost almost nothing. Now we all see the price of these unaccepted, botched decisions. Last week's €136 million state injection into bonds + we give €50 million from profit to 'junkbond' speculators, we risk €/$ exchange rate fluctuations (because planes are leased in $), we enter an IPO with a negative story and losses in the 2024 balance sheet. I say that unfortunately this is not the last time the state has to prop up AB. I would like to hear soon from @Apvienotais_ faction an explanation from @Briskens about further plans, so that this time we don't have to go head over heels to save without information and plan B. #airbaltic

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From@PAgenskalns

@JurgisLiepnieks Yesterday I was surprised that only Vienotība and Progresīvie are for staying in the EU, the rest think we should leave, we are rich and self-sufficient, what has happened to them in the last 30 years, how toxic AP Tavars is, a saboteur for LV

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From@Lato_Lapsa

Kulbergs, Vītols, and Kučinskis' new, great airBaltic business plan: borrowing at 14.5% per year was bad, so now we'll borrow at 25% per year. And shut up, dimwits, you understand nothing!

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From@KNL_LTV1

ZZS entered the government after five years in opposition, Latvia's economy was in the red, it was important for us to address these issues, there were parties that chose not to join Siliņa's government under such circumstances, says Viktors Valainis, ZZS's nominated candidate for prime minister.

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From@KNL_LTV1

AS has not passed any issue in the 14th Saeima that would affect economic development, claims Vikts Valainis. Also JV and NA, in his opinion, have never focused on economic development.

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From@KNL_LTV1

That is not the most important question, asked how the decision was made to position him as a prime minister who comes from the people for the 15th Saeima elections, says ZZS candidate for Prime Minister Viktors Valainis.

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