The Latvian office of Cobalt has advised AirBaltic on a EUR 250 million investment in its shares by the Latvian Government.
According to Cobalt, "the decision of the Latvian government to recapitalize AirBaltic was approved by the European Commission. In its announcement, the Commission stated that AirBaltic plays a major role in the Latvian economy, notably because it ensures essential connectivity services within Latvia and from Latvia to other European and international destinations. The Commission also added that the company contributes significantly to foreign trade, as several Latvian businesses rely on its air services to connect with business centers in Europe and worldwide."
Cobalt's team included Managing Partner Dace Silava-Tomsone, Partners Gatis Flinters and Guntars Zile, Senior Associate Diana Zepa, and Associates Janis Sarans and Toms Krumins.