Latvian parliament backs AirBaltic cash injection

Thu Dec 3, 2015 4:23am EST
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RIGA Dec 3 (Reuters) - Latvia's parliament on Thursday backed an 80 million euro cash injection for AirBaltic, lifting a potential hurdle for the state-owned flag carrier to complete the purchase of CSeries passenger jets from Canada's Bombardier .

The green light follows a government decision to prevent the state-owned airline separately importing jets from Russia's Sukhoi, a possibility that had threatened to put the airline at odds with the Baltic state's hawkish policy against Moscow.

The state infusion is part of a refinancing and expansion plan that also calls for 52 million euros of private investment from a German banker in return for a 20 percent stake. (Reporting by Gederts Gelzis, writing by Tim Hepher; editing by Niklas Pollard)