AIRBALTIC FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION IN US

AirBaltic has voluntarily filed for Chapter 11 bankruptcy protection in the United States, the airline has confirmed. Latvia's national carrier said the filing, made on 14 September, allows it to restructure its finances while continuing normal operations. It told customers that flights, schedules, crews and aircraft will continue exactly as before, with no disruption to services or safety standards. Tickets already booked remain valid, and AirBaltic said passengers do not need to take any action. The airline has secured a commitment for €350m (£299m) in financing to provide liquidity during the process.

AirBaltic flies direct from London Gatwick, London Heathrow and Manchester to Riga in Latvia, Tallinn in Estonia and Vilnius in Lithuania. The airline said it carried 554,700 passengers in August, a five per cent increase on the same month last year. Erno Hildén, AirBaltic's president and chief executive, said the restructuring would not be noticeable to passengers, with the airline continuing to fly, sell tickets and plan its future schedule. He said the company was taking steps to become more financially sustainable while maintaining day-to-day operations for passengers and partners.

An industry expert said British travellers with existing bookings should not cancel their flights following the filing. AirBaltic said the Chapter 11 process, which allows US companies to keep trading while restructuring debts, forms part of a wider plan to build a more efficient and financially stronger airline. The company has outlined plans to operate 57 direct destinations from Riga, 13 from Tallinn and eight from Vilnius for the summer 2027 season. Hildén said the airline would keep implementing its new business plan while continuing to serve passengers and partners as normal.