What Happened
Latvian Carrier Seeks Restructuring Amid Financial Challenges
Latvian flag carrier airBaltic has filed for Chapter 11 bankruptcy protection in the United States, seeking to restructure its finances while continuing to operate scheduled flights. The airline has been facing significant challenges, including rising fuel prices and the loss of profitable routes due to Russia’s invasion of Ukraine. AirBaltic has secured a commitment for €350 million in financing to support its operations during the restructuring process, which is expected to be completed by June 2027. This development was first reported by Flightradar24 Blog.