airBaltic Files Chapter 11 in New York With €350 Million DIP Financing Commitment Pending Court Approval
Latvia's 88% state-owned carrier airBaltic filed for Chapter 11 protection in the Southern District of New York on September 14, 2026, securing a commitment for €350 million in debtor-in-possession financing arranged by Strategic Value Partners at SOFR plus 8%, though those funds are not yet court-authorized or drawn. The filing superseded an earlier proposed €257 million interim facility carrying 25% annual interest, and comes as the airline reported €1.8 billion in total liabilities, negative equity of €249 million, and just €15.6 million in unrestricted cash as of March 31. Flights and existing tickets remain valid, but key restructuring details including the debtor list, case number, creditor classes, and any plan of reorganization have not yet been made public.