Baltic International Airlines

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Baltic International Airlines ( BIA ) was a Latvian and US joint venture company owned by SIA Baltic International Airlines whose main airport was Riga International Airport . It was founded in Jun1992, after the US-based private company Baltic International USA ( BIUSA ) failed to buy a part of the state-owned Latvian national airline Latavio. In the joint venture, the Latvian government owned 60%, while BIUSA owned 40% of the property. After unsuccessful privatization attempts, Latavio was declared insolvent from Oct1995. It was liquidated and the Latvian government together with the Latvian- US joint stock company Baltic International Airlines created a new national airline airBaltic
[ – airBaltic was established on 28Aug1995 and operations started on 01Oct1995
~ state-owned Latvian low-cost carrier and the country’s flag carrier, based out of Riga International Airport]

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