airBaltic bondholders have approved amendments to the airline’s €380 million 14.50% bonds due in 2029, giving the Latvian carrier more room to manage near-term cash needs while it works on interim financing and a wider restructuring plan. The changes allow interest due in August and November to be capitalised instead of paid in cash, while temporary relief from minimum liquidity requirements and certain reserve account rules is also in place.
The vote took place at a reconvened bondholder meeting after an earlier session failed to reach quorum. The revised terms are designed to slow cash outflow as airBaltic seeks bridge funding and prepares a revised business plan. Financing for the broader package has not been finalised, and the structure of that support remains under development.
The amendments also adjust notice and quorum rules for future bondholder meetings. For airBaltic, the approval removes an immediate refinancing pressure and keeps the restructuring process moving while management pursues the next stage of its capital plan.