MOSCOW/RIGA, July 18 - RAPSI. On Tuesday, the Moscow Commercial Court postponed until August 15 its hearings of two Investbank lawsuits against Latvian national air carrier Air Baltic Corporation (airBaltic) and Baltijas Aviacijas Sistemas (BAS) to recover a total of 13.5 million euros, the court told the Russian Legal Information Agency.

On the same day, the plaintiff increased the amount it is claiming as the period of accrued interest had extended. In one lawsuit, the bank now seeks 2.35 million euros (instead of 2.2 million) and in the second - 11.15 million euros (instead of 10.3 million).

In summer 2011 the bank signed agreements with BAS for 2.1 million euro and 9.9 million euro loans, said the plaintiff. The first loan was set to mature on July 4, the second - on June 29. AirBaltic was the guarantor. The BAS agreed to pay monthly interest, but as the company stopped payment in November 2011, the bank went to court seeking early repayment.

On Tuesday, the court also upheld Latvijas Krajbanka's application to step in as the third party. Latvijas Krajbanka is currently undergoing bankruptcy procedures.
Investbank was set up in Kaliningrad in 1989. Its head office moved to Moscow in 2011. Investbank is a multi-service bank which serves over 20,000 companies and 200,000 individuals in 84 Russian cities.

Air Baltic Corporation is a joint stock company founded in 1995. The Latvian government holds 99.8 percent of its shares. In 2011, AirBaltic served over 3.3 million passengers. Its fleet consists of 34 planes.