In-depth evaluation to be carried out at airBaltic

In accordance with the government’s order, KPMG Baltics will carry out an in-depth evaluation at airBaltic for the 2011-2015 period. Considering the costs offered by auditor companies, the government has decided to use the services offered by KPMG Baltics, because its offer does not exceed EUR 50,000 without VAT.

As explained by Transport Ministry’s state secretary Kaspars Ozolins: «In accordance with the decision of the Cabinet of Ministers of 19 September, the ministry is tasked with hiring an independent expert in order to carry out an in-depth evaluation of activities of airBaltic for the 2011-2015 period. It will help properly evaluate activities of airBaltic council and management board, the airline’s financial activities. It will also provide an insight in regards to progress in the realization of goals of Horizon 2021 business plan. Four of the largest internationally recognized audit companies working in Latvia have responded to the ministry’s invitation.»

«Our objective is to finish the evaluation of airBaltic’s financial results for the five years by May. KPMG’s aviation experts from Britain will take part in the airline’s evaluation,» – comments KPMG Baltics transaction consultation director Julija Masane-Ose.

The Cabinet of Ministers has also decided that Air Baltic Corporation will pay for services of the audit company using its own finances, as reported by Transport Ministry.

BNN 

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