SAS, Baltic International USA and two Scandinavian investment funds are to set up a new Latvian national carrier with the government. The unnamed carrier will absorb Baltic International, owned by BIUSA and the Latvian government, and have startup capital of $12.1 million. The state will hold 51 per cent, BIUSA 20 per cent, SAS 16.5 per cent and the investment funds 12.4 per cent.
Source: Airline Business