Latvian Parliament Approves €30 Million Loan for Air Baltic

Latvia’s parliament approved a €30 million ($35 million) loan for the country’s Air Baltic Corp, cutting short a conflict that threatened to split the country’s coalition government.

Prime Minister Evika Silina had warned that disagreement over financing could bring down the cabinet six months ahead of parliamentary elections. Air Baltic requested the loan in March after jet fuel prices surged due to conflict in Iran, saying it had limited hedging protections.