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AirBaltic files for Chapter 11 bankruptcy in New York
The Latvian carrier said 350 million euros in financing will support operations while it restructures debt under court supervision.
- On Monday, AirBaltic filed for protection under Chapter 11 of the U.S. Bankruptcy Code in New York as part of a financial restructuring aimed at reducing its debt.
- Escalating fuel costs from the U.S. war with Iran doubled jet prices, worsening the airline's liquidity position after a €30 million Latvian state loan in April compounded financial pressures.
- Strategic Value Partners, Barclays, Hayfin Capital Management, Morgan Stanley, and Oaktree Capital Management committed €350 million in debtor-in-possession financing to support operations during restructuring.
- Despite the Chapter 11 filing, AirBaltic assured customers that all flights, reservations, and services continue uninterrupted throughout the court-supervised restructuring process.
- The filing marks the second airline casualty linked to the Iran conflict after Spirit Airlines collapsed in May, while competitors like AirAsia seek fresh capital amid rising fuel pressures.
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berlingske.dk+2 Reposted by 2 other sources
AirBaltic has filed for bankruptcy protection to reduce financial liabilities. Operations continue.
·Copenhagen, Denmark
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Latvian airline airBaltic has filed for Chapter 11 bankruptcy protection in the US due to rising fuel costs and debt. The company announced it has secured €350 million in financing to continue operations during the restructuring process.
·Türkiye
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Air Baltic also has flight routes from Finnish cities.
·Helsinki, Finland
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The airline wants to reorganize financially under judicial supervision. For passengers there should be no changes to the airline, also for other companies,
·Düsseldorf, Germany
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Total News Sources56
Leaning Left4Leaning Right5Center12Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 19%
C 57%
R 24%
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