Airlines Confidential · Wednesday, September 23, 2026
Air Baltic, majority-owned by the Latvian government with a minority stake held by Lufthansa, has filed for Chapter 11 bankruptcy reorganization in the US. The move is intended to help the airline shed debt, reduce its fleet by 20 Airbus A220-300 aircraft, and lower costs amid financial pressure from high fuel prices exacerbated by the war in Ukraine.
“Case in point, Air Baltic filed for chapter 11 bankruptcy reorganization in New York.”
“It voluntarily went to bankruptcy court in the US to shed some debt, get rid of 20 of its 54 Airbus A220 300 airplanes, and lower costs because of the financial pressure of high fuel prices caused by the war with Ukraine.”
“The airline has secured about 350 million euros in debtor and possession financing.”