airBaltic’s unsecured creditors’ committee has asked the U.S. Bankruptcy Court for the Southern District of New York to approve three advisers for the Latvian airline’s Chapter 11 restructuring. The proposed appointments cover legal, aviation-finance and investment-banking support as creditors assess the carrier’s fleet, liquidity, funding needs and potential strategic transactions.
Willkie Farr & Gallagher would advise the committee on creditors’ rights, airBaltic’s operations, negotiations and proposed asset transactions or reorganisation plans. Alton Aviation Consultancy would review the airline’s financial position, 13-week cash-flow forecasts, fleet and engines, aircraft orders, development plans, projections and selected pre-filing and related-party transactions.
Jefferies would examine airBaltic’s business plan, debt burden, capital structure, existing financing, alternative funding sources and options for financing after Chapter 11. Its mandate could also cover potential sales of assets or capital. The proposed fee is US$150,000 per month, plus a success fee of up to US$2.75 million if a Chapter 11 plan or a transaction involving all or a substantial part of the group’s assets or capital is completed.
The court is due to hear the applications on 17 November, with objections due by 10 November. The appointments remain subject to approval. airBaltic has access to up to €350 million in debtor-in-possession financing to support operations and liquidity during the restructuring, which is expected to continue until around mid-2027.