newstodate.aero
Dec 21, 2011 (newstodate): The Latvian ground handling company North Hub Services, re-branded Havas Europe from December 15, 2011, will probably soon see a change in ownership structure.
Since April 2010, the company is owned 50/50 by the Turkish company Havas and the Latvian Baltic Aviation System that earlier controlled the entire stock.
But the change of name also indicates that Havas will either increase its stake in the company, or another investor may be found to reduce or eliminate the 50 percent stake now held by BAS that may be in financial problems connected with the recent collapse of the Latvian bank, Krajbanka that was behind a large part of the financing platform.
BAS, that was also a shareholder in the Latvian carrier airBaltic, is controlled by Bertolt Flick, until October 31, 2011, CEO and President of airBaltic
Since April 2010, the company is owned 50/50 by the Turkish company Havas and the Latvian Baltic Aviation System that earlier controlled the entire stock.
But the change of name also indicates that Havas will either increase its stake in the company, or another investor may be found to reduce or eliminate the 50 percent stake now held by BAS that may be in financial problems connected with the recent collapse of the Latvian bank, Krajbanka that was behind a large part of the financing platform.
BAS, that was also a shareholder in the Latvian carrier airBaltic, is controlled by Bertolt Flick, until October 31, 2011, CEO and President of airBaltic