Latvia’s airBaltic reduces capital, cuts board salaries

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Latvia’s airBaltic reduces capital, cuts board salaries

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 a…