Lithuania should not invest in Latvia's struggling national airline airBaltic until it returns to profit, President Gitanas Nausėda said on Friday.
"The company needs to make very radical decisions to reduce costs and increase its yield. Until such guarantees are in place, I believe it would be quite irresponsible to make any generous promises – while we do not see how the company's rise from the ashes and its profitable activity will be ensured," Nausėda told reporters.
He said all financial aspects and risks must be evaluated before any acquisition of airBaltic shares is considered.
He noted that Lithuania still remains interested in the airline's survival – partly because of its EU Council presidency in the first half of next year, which will require extensive travel by Lithuanian officials to all 26 other EU member state capitals.
Lithuanian politicians are divided on the question.
