Tallink representatives also explained that the company still does not see the demand for ferries that existed before the Covid-19 pandemic, adding that the economic and financial situation is mainly influenced by the consequences of the pandemic as well as the war in Ukraine.

Thus, while the economic and geopolitical situation is in turmoil, the company will focus on the profitability of the core business and on alternative sources of revenue, such as the chartering of Tallink vessels, the company said.

At the same time, the company noted that Tallink Silja Line continues to offer services in the Latvian market, for example, Tallink Hotel Riga resumed operations in April last year.

Representatives of the Ministry of Transport (MoT) told LETA that ferry traffic in Latvia is now sufficiently intensive, i.e. currently the ferry from Ventspils to Nynashamn in Sweden runs eight times a week, while the ferry from Liepaja to Travemunde in Germany runs six times a week.

As reported,  Tallink's regular ferry service between Riga and Stockholm was discontinued at the beginning of 2020.

Meanwhile, Tallink Hotel Riga, closed due to the pandemic, reopened on April 14 last year.

Tallink Grupp operates ferry services in the Baltic Sea under the Tallink and Silja Line brands. The company also operates three hotels in Tallinn and one in Riga. The company's shares are listed on the Tallinn Stock Exchange. The largest shareholder is the Estonian investment company Infortar, which owns 40 percent of Tallink Grupp.