Air Baltic files Chapter 11, secures interim financing to continue operations

Latvia's national carrier Air Baltic filed for Chapter 11 bankruptcy protection in the U.S. on September 14, and two days later received court approval to access €140M of a €350M debtor-in-possession financing facility to maintain operations. The filing is a restructuring move rather than an immediate shutdown, but it signals severe financial distress for the airline amid ongoing competitive and cost pressures. The outcome remains uncertain, hinging on the success of its restructuring plan and continued access to financing.