airBaltic bondholders have approved amendments to the airline’s €380 million 14.50% senior secured bonds due in 2029, allowing the August and November interest payments to be capitalised and temporarily suspending the minimum liquidity covenant until 14 November. The vote, held after an earlier meeting failed for lack of quorum, gives the Latvian carrier short-term breathing room as it works on broader financing and refinancing arrangements.
The changes also cover temporary adjustments to the bond service reserve account rules and to notice and quorum requirements for future bondholder meetings. The approval is part of airBaltic’s wider effort to manage liquidity while discussions continue on interim financing and a revised business plan.
The bondholder decision came amid pressure on the airline to secure additional financial support without disrupting its operating plan. The measure eases near-term cash demands tied to debt servicing, but the longer-term financing package was still unresolved when the vote was held.