Latvia’s nationwide airline has informed prospects that flights will “proceed as regular” after it initiated bankruptcy proceedings.
On 14 September, airBaltic voluntarily filed for a Chapter 11 monetary reorganisation within the US to proceed operations whereas restructuring its funds.
The airline flies immediately from the UK to Riga (Latvia), Tallinn (Estonia), and Vilnius (Lithuania) from London Gatwick, London Heathrow and Manchester airports.
In response to the airline, all plane, crews, schedule and providers will “proceed precisely as earlier than, with the identical deal with security and operational reliability”.
AirBaltic mentioned that the transfer was an vital step to “strengthen our monetary place and help our broader plan to construct a extra environment friendly, stronger airline for the longer term”.
It informed passengers that tickets stay legitimate with no required motion.
The corporate has secured a dedication for €350m (£299m) in financing to supply liquidity and help throughout the Chapter 11 course of.
In August, airBaltic carried 554,700 passengers throughout its community, a 5 per cent enhance in contrast with the identical interval final yr.
For the summer season 2027 season, airBaltic plans to function 57 direct locations from Riga, 13 from Tallinn, and eight from Vilnius.
Erno Hildén, president and chief govt officer of airBaltic: “Our focus is on persevering with to run the airline whereas implementing the adjustments set out in our new marketing strategy. For our passengers, this course of is not going to be noticeable – our operations proceed as regular, and we’re flying, promoting tickets and planning our future schedule, with the identical deal with security and operational reliability.
“On the identical time, we’re taking the required steps to make airBaltic a extra financially sustainable airline. This course of permits us to proceed that work whereas sustaining our day-to-day operations and serving our passengers and companions.”
Learn extra: Another low budget airline files for bankruptcy