airBaltic (BT, Riga) has formally completed its announced capital reduction, an official filing revealed, a move that comes ahead of its long-awaited initial public offering (IPO). The majority Latvian state-owned carrier also announced that its executive board had agreed to slash its members’ own salaries by almost half ahead of the listing.

After the share capital restructure, the company went from having four share classes to only one, with all shares valued at EUR0.10 euros (USD0.105). The move cut the capital by…

Source: ch aviation
Read more: Latvia’s airBaltic reduces capital, cuts board salaries