Latvian flag carrier airBaltic has recently filed for Chapter 11 bankruptcy protection in the United States, aiming to restructure its financial obligations while continuing to operate normally. The airline has secured €350 million in debtor-in-possession financing to support its liquidity during this process. Despite the legal proceedings, airBaltic reassures passengers that flights, reservations, refunds, and customer services will not be affected in the immediate future.
The airline’s Chairman of the Supervisory Board, Andrejs Martinovs, noted that the restructuring intends to create a more sustainable and financially resilient airline with a reduced obligation profile. Currently operating a fleet of 54 Airbus A220-300 aircraft, airBaltic has orders for an additional 40 aircraft to strengthen its capacity and future operations.
Scheduled flights continue as planned, with airBaltic emphasizing that the process allows for operational continuity while implementing necessary financial adjustments in the background. The company highlights its commitment to maintaining scheduled services and existing customer policies during the restructuring period, aiming for long-term stability and growth in the aviation market.
