airBaltic has filed for Chapter 11 protection in the United States as it moves to restructure its debt under court supervision in New York. The Latvian carrier said normal operations will continue during the process, with flights, ticket sales, reservations, customer service and existing tickets remaining unaffected.
airBaltic secured commitments for about €350 million in debtor-in-possession financing from a lender group including Strategic Value Partners, Barclays, Hayfin Capital Management, Morgan Stanley and Oaktree Capital Management. The funding is intended to provide liquidity while the airline negotiates with creditors, aircraft lessors and other stakeholders.
Chief executive Erno Hildén said passengers should not notice the restructuring in day-to-day travel. The airline expects to complete the Chapter 11 process around June 2027, with the plan aimed at strengthening its financial position and supporting a more efficient and sustainable business model. The financing remains subject to court approval.