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By Akiko MatsudaLatvia's state-backed national carrier, airBaltic, filed for chapter 11 bankruptcy protection on Monday to restructure its debt and downsize its fleet.Under the proposed restructuring, the company aims to convert a portion of its senior secured bonds into equity while downsizing its…
WASHINGTON (dpa-AFX) - Latvia's airBaltic voluntarily filed for Chapter 11 bankruptcy protection in New York on Monday as it seeks to restructure its debt and cope with soaring costs linked to the Iran war.The airline secured a commitment for EUR 350 million in financing from lenders including Stra…
The carrier filed for Chapter 11 in New York to restructure its debt as pressure from geopolitical and financial factors intensified.
Latvia's airBaltic said it filed for Chapter 11 protection in New York as part of a financial restructuring aimed at reducing debt.