airBaltic has filed for Chapter 11 bankruptcy protection in the US to restructure its debt, with flights continuing as usual during the process.
Losing Russia is bad, losing them and trying to sustain high fuel prices is 5x bad, not that it's something they can control. I really hope they survive, AirBaltic is cool, just struggling to see how it can work out unless something they cannot control suddenly changes in their favor.
Air Baltic is a wonderful little airline and I hope they survive and prosper.
Most of us want them to survive, but it's a really bad combination, in part due to: Russia (both loss of routes to/from there, and closed airspace due to that war), the Iran war also driving up fuel costs, P&W engine issues affecting their A220 fleet, and higher interest rates making refinancing a challenge. They'll either end up like Norwegian after its bankruptcy, or like Spirit. Hoping for the former; wishing them the best.
Well had to cancel all my Europe plans for personal reasons or I would be flying them tomorrow.
I'm surprised BT has enough debt in the US to make this worthwhile. I'd assume most of their creditors are in the EU.
I hope they can survive this.
I love Air Baltic. Lots of factors are against them at the moment... but really hope they can pull through all of it. Terrific little airline.
Another affliction for AirBaltic was the P&W GTF engine which grounded many airframes.
Hope Baltic addresses all its issues in this Chapter 11. Remember, Spirit went thru Chapter 11, but failed to properly address debt; therefore, it ended up filling Chapter 22 ( 11 x 2 = 22) and still went under.
If it's looking for more work, might re-arrange the seats in a few jets for charter work like JetBlue is doing with two jets. Plenty of sports teams in Europa.
When it comes out of bankruptcy, might become a subsidiary of Der Kaiser. Just change the logo to Luft-Baltic. ==;-)
Not familiar with bankruptcy proceedings. Why are they filing in the US?
Very basic knowledge here.
Any company (even if not US registered/based) can file for bankruptcy in the US if they have any sort of operations in the US (something that might affect labour/employment)
Some Air Baltic A220 are produced in the US. Air Baltic also does a great deal of leasing and insurance with American companies.
Thai Airways previously filed for bankruptcy in the US on the grounds of their sole route to lax.
From what I understand, the US bankruptcy system is a bit more streamlined compared to other countries; especially with pre-arranged "debtor in possession" financing.
IIRC, Azul Brazilian Airlines filed for chapter 11 in the US in 2025.
Most of their financing arrangements are likely governed by US law + favorable bankruptcy regime in the US (note Chapter 11 is "bankruptcy protection", not "bankruptcy").
Bankruptcy proceedings in the US not only allow to continue operation (as it does in most countries), but also to honor previous obligations - aka tickets - which is not the case in most jurisdictions, but very damaging if not. So airlines try to find some legal reasons to file in the US and honor their sold tickets.
Hope the pull is through. They are a great airline and I love their all A220 fleet many of which have starlink.
I suspect they will survive but be in a very niche flag carrier perspective....the problem is a 100 aircraft carrier really is too much capacity for a country that is less than 2 million people.....lookat Finnair trying to fly out of other countries.
So thier exporting of flying really hasnt worked out especially when they arent linked to a larger alliance.
So im not surprised.
BT was never purely Latvian carrier, they always had entire Baltics as their home market and that's not a limit either. They have the entire EU as their playground. LHG also couldn't be as large as it is if it only flew out of Germany.
thats exactly my point....its tough to play in other countries despite being in the EU....would a base of KLM do well say in BCN?
AY tried ARN a few years back and it didnt go well....
so i see the same problem here.....i think they need a suitor....i would argue AY or AFKLM could be the best possible acquiorer.
Their only hope is to become Opa Lufty's newest flag carrier. They can get the 90% they don't own cheap. And then, if there's a God, MX can join them, so it'll be clear to everyone that Franco-Canadian Spaghetti-Os is the kiss of death.
As an American of Latvian descent, I'm hoping they are able to survive and thrive.
I am not sure they were ever a particularly well run airline. They were always great at expanding in times of strong economic growth, but never great at managing times of austerity. A well run airline would actually be able ride out both.
The decision to order 100 A220 aircraft was a clearly not a well run business decision. But same as Norwegian Air Shuttles massive aircraft orders, a hope based decision rather than a strategic well founded decision.
Correct! The manager Gauss apparently was soo good that on the day of firing he jumped on a flight to MUC and never came back.