This is the last chance to save airBaltic”: Kulbergs unexpectedly found himself in Silina’s ‘shoes’

The agenda has one question — the rescue plan for airBaltic. It consists of three main points. **The first** point is to extend the repayment period for the remaining part of the loan (just over 18 million) until December 31, with the possibility of not requiring the repayment of these funds at all, converting them into shares of airBaltic. **The second** is to convert into shares those debt bonds that the government purchased from airBaltic for 50 million euros at one time. **The third** is to obtain a mandate from the Saeima to provide airBaltic with a loan of up to 30 million. Yes, Kulbergs’ government hopes to receive a mandate from the parliament at an extraordinary Saeima meeting the day after tomorrow. There is practically no time for reflection — the situation, as the head of government acknowledged, is very serious. “This is the last chance to save airBaltic!”, the Prime Minister states, emphasizing that the airline’s insolvency is the worst possible scenario, considering the significance of the airline for the national economy. As far as can be understood, if the Saeima refuses to approve the presented rescue plan, the national airline faces insolvency with all the ensuing consequences. However, a default may also occur if the bondholders' meeting in the future does not agree to the proposal to defer interest payments on the bonds and convert the bonds into shares. The airline’s management will also ask bondholders to invest more funds in the airline, that is, to purchase shares and thus become the main owners of airBaltic. ## There was no need to offend the woman Let us remind you that exactly four months ago, when the Saeima was deciding on providing the airline with an urgent loan of 30 million euros, Andris Kulbergs, then an opposition deputy, completely refused to participate in the voting, stating that he could not support the issuance of the loan. The then Prime Minister Evika Silina, as is known, long persuaded the deputies to agree to provide financial assistance to the airline — primarily to cover the sharply increased cost of fuel. And now Kulbergs himself finds himself in the ‘role of Silina’ — now he will have to ‘run to the deputies’ and explain the necessity of saving airBaltic. At the same time, each of the parliamentarians understands that making an unpopular decision could result in failure in the upcoming Saeima elections on October 3. We will find out soon how the Prime Minister’s attempts will end.