Latvian Baltic Airlines said today that the company has applied for bankruptcy protection in the New York court in accordance with Chapter 11 of the US Bankruptcy Law as part of debt restructuring and debt reduction. Baltic Airlines said in a statement that the company has obtained financing commitments of 350 million euros from Morgan Stanley, Barclays Bank, Oak Capital, etc. to support business operations during the restructuring period. The airline, which is controlled by the Latvian government, said that the purpose of applying for bankruptcy protection is to obtain protection during negotiations with creditors, and that flights will operate normally according to the original plan throughout the court supervision process. The analysis points out that the US-Iran war has led to the doubling of aviation fuel prices and continues to put pressure on the aviation industry. Airlines, which are under heavy pressure on their balance sheets and are more affected by fluctuations in fuel prices, are the group hardest hit by this war.
智通财经·09/14/2026 09:09:07
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Latvian Baltic Airlines said today that the company has applied for bankruptcy protection in the New York court in accordance with Chapter 11 of the US Bankruptcy Law as part of debt restructuring and debt reduction. Baltic Airlines said in a statement that the company has obtained financing commitments of 350 million euros from Morgan Stanley, Barclays Bank, Oak Capital, etc. to support business operations during the restructuring period. The airline, which is controlled by the Latvian government, said that the purpose of applying for bankruptcy protection is to obtain protection during negotiations with creditors, and that flights will operate normally according to the original plan throughout the court supervision process. The analysis points out that the US-Iran war has led to the doubling of aviation fuel prices and continues to put pressure on the aviation industry. Airlines, which are under heavy pressure on their balance sheets and are more affected by fluctuations in fuel prices, are the group hardest hit by this war.