Story perspectives

airBaltic files for Chapter 11, secures €350M financing

By Drooid · Sep 14, 2026, 6:13 PM UTC · How we work

Summary

airBaltic Files Chapter 11

airBaltic filed for Chapter 11 bankruptcy protection in the U.S. Southern District of New York.
The airline expects the Chapter 11 process to conclude around June 2027.
airBaltic secured €350 million DIP financing at roughly 12% interest.
All flights, tickets and customer service will continue unchanged during restructuring.
airBaltic will cut its A220-300 fleet from 54 to 36 aircraft by end-2026.

Summary

Latvia Seeks Investor

Prime Minister Andris Kulbergs said the Latvian government is seeking a strategic investor for airBaltic.
By April, airBaltic had exhausted €380 million raised through 2024 bond issuances.
The government’s €30 million emergency loan expired in June after being granted in April.
Over 70% of bondholders voted for liquidation, prompting airBaltic’s Chapter 11 filing.
AirBaltic’s plan for a 100-aircraft fleet and transit traffic from Russia, Belarus and Ukraine is now unattainable.

History

Historical Context

Continental Airlines first used Chapter 11 on 24 September 1983, citing $650 million debt and rejecting collective-bargaining contracts to cut labor costs; after emerging in 1986 it restored routes and grew its fleet. The airline repeated a Chapter 11 filing in December 1990. AirBaltic’s 2024 Chapter 11 filing follows this precedent, seeking €350 million DIP financing and a strategic investor to rebuild its A220 fleet.

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airBaltic Files Chapter 11

airBaltic filed for Chapter 11 bankruptcy protection in the U.S. Southern District of New York.
The airline expects the Chapter 11 process to conclude around June 2027.
airBaltic secured €350 million DIP financing at roughly 12% interest.
All flights, tickets and customer service will continue unchanged during restructuring.
airBaltic will cut its A220-300 fleet from 54 to 36 aircraft by end-2026.

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