Latvian flag-carrier airBaltic has initiated Chapter 11 proceedings, as the embattled airline attempts to restructure its finances.
Day-to-day operations are not affected. In an update to passengers, airBaltic stressed the schedules remain unaffected, with all existing tickets and new bookings remaining valid.
Additionally, the airline has stated that refunds and vouchers, as well as gift cards and credits can continue to be used in the same was as before.
Emphasising that the procedure concerns the financial structure of the company and not its operations, Erno Hildén, President and Chief Executive Officer of airBaltic:
“Our focus is on continuing to run the airline while implementing the changes set out in our new business plan. For our passengers, this process will not be noticeable – our operations continue as normal, and we are flying, selling tickets and planning our future schedule, with the same focus on safety and operational reliability. At the same time, we are taking the necessary steps to make airBaltic a more financially sustainable airline.
This process allows us to continue that work while maintaining our day-to-day operations and serving our passengers and partners.”
airBaltic entered 2026 under pressure from ongoing GTF maintenance issues stemming from it’s all-Airbus A220 fleet. By February, the airline was more exposed by the shock in oil prices stemming from the Iran war than many competitor airlines in Europe. Reports suggest that it had hedged just 10% of its oil when the conflict started, compared with between 60-80% for Ryanair, easyJet and Wizz.
