The government today, after nearly four hours of discussion, approved the strategic development plan for airBaltic and delegated a representative from the State Treasury to participate in the bondholders' meeting of the national airline. The meeting will take place on August 3. Following the extraordinary government meeting, which was held in a highly confidential manner, the Prime Minister noted that it is not enough to write a business plan; it must also be implemented, which is only possible if a strategic investor is found. Andris Kulbergs emphasized that the decision to issue bonds at a crazy interest rate of 14.5% per annum was a mistake. Politically responsible for saving the airline, Minister of Transport Rihards Kozlovskis issued the following statement after the extraordinary government meeting: "Today, July 30, the Cabinet of Ministers reviewed the semi-annual results of the national airline airBaltic and the new business plan, supporting its implementation. At the same time, the government mandated the Ministry of Transport (MoT) as a shareholder to vote at the bondholders' meeting scheduled for August 3 in order to ensure interim financing for sufficient liquidity and effective implementation of the new business plan. "airBaltic provides international compatibility that is strategically important for the economy of Latvia. It is the responsibility of the state as a responsible shareholder and creditor to participate in the stabilization process of the enterprise, supporting thoughtful and rational decisions in the name of the future of the enterprise. Today's decision is a step forward so that airBaltic can attract strategic, long-term investors. Furthermore, the goal remains that Riga is the base for airBaltic. This is important for Latvia's international transport connections, overall economic activity, and the development of the state. The new strategic business plan was developed by airBaltic management in collaboration with international aviation industry consultants Seabury, adhering to the guidelines and conditions for the strategic development of the enterprise outlined in the shareholder's letter of expectations. The main goal of the plan is to ensure the long-term financial stability of the enterprise and gradually reduce dependence on state funding. It is based on four main principles: continuity of operations and flight provision, strengthening Riga as the Baltic aviation center, developing regional compatibility, and financial sustainability. Improving the operational model of airBaltic, revising the strategic development, and stabilizing the financial situation are among the priorities of the Ministry of Transport. The goal of the Ministry is to ensure that the enterprise develops on economically justified principles while maintaining its strategic importance for ensuring Latvia's international compatibility. The new business plan provides a clear vision of how airBaltic will return to sustainable growth and profitable operations. The bondholders' meeting on August 3 is an important step in the process of attracting financing for the enterprise. Participants will make decisions on the agenda items, including changes to the requirements for holding the meeting, implementing financing decisions, and deferring interest payments on the bonds to support the enterprise's liquidity management during the implementation of the business plan. The agenda has already been published on the exchange, and the course of the meeting and the decisions made will also be disclosed in accordance with regulatory requirements. At the same time, the enterprise continues to implement the planned flight program, providing passengers with safe and reliable transportation.