AirBaltic Files for Chapter 11 Bankruptcy Protection

Latvia's AirBaltic has filed for Chapter 11 bankruptcy protection in the U.S., seeking court protection from creditors to restructure its debt. The airline filed in the U.S. Bankruptcy Court for the Southern District of New York, saying flights will continue as scheduled and tickets, reservations and customer service are unaffected. It expects the process to take until around June 2027. AirBaltic has secured a commitment for €350 million ($404 million) in new financing to support operations during restructuring.