24/05/2022 (Agence Europe) – On Tuesday 24 May, the European Commission approved a €33.4 million Latvian aid measure to recapitalise airBaltic in the context of the coronavirus pandemic. airBaltic is the largest airline in Latvia and plays a major role in the Latvian economy. Its main shareholder is the Latvian State, which, after the recapitalisation approved on 3 July 2020, currently holds a stake of about 97% in the company. This €33.4 million recapitalisation, which will be completed before the end of June 2022, will bring the participation of the State to almost 98%. The European Commission has also approved an €11.6 million Latvian measure to compensate airBaltic for the damage suffered as a result of the pandemic (damage suffered in the period between 16 June 2020 and 14 June 2021). (LC)