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Latvian national airline airBaltic is suing Bertolt Flick, its German former chairman and chief executive, the Baltic state’s transport ministry announced Wednesday.
“Today, an airBaltic shareholder meeting decided to sue the former airBaltic board member and CEO Bertolt Flick … for damages caused to airBaltic,” the ministry said in a statement.
The state owns 99 percent of the company after seizing control on January 11 of the 47 percent share previously controlled by Flick’s offshore company Baltic Aviation Systems.
The ministry said it was too early to specify the precise allegations against the former high-flying businessman.
“Once the claim is submitted, the public will be informed in detail,” the ministry said.
Flick joined the fledgling company in 1995 and left in October 2011.
He initially helped turn it into an award-winning regional force but was increasingly dogged by rumours surrounding the company’s opaque ownership structure and accounting methods, as well as his links to prominent politicians.
Flick, 47, left Latvia in June 2011 and has vowed to never return. On February 12, German airline XL Airways announced his appointment as the new chief executive.
AirBaltic lost 100 million euros ($133 million) in 2011, according to unaudited figures.
On March 6, new chief executive Martin Gauss announced a restructuring plan, envisioning a return to profitability in 2014.