What happened
airBaltic filed for US Chapter 11 protection on September 14, 2026 so it can keep flying while it reworks its debts, with the case expected to finish around June or July 2027. The airline says flights are running as scheduled and existing tickets remain valid.
The Latvian government owns 89% and Lufthansa Group owns 10%. The government has said it will not inject more cash. Further aid could run into EU limits. A €350 million debtor-in-possession loan at 12% interest is meant to fund operations through the case.
The turnaround cuts the all-A220 fleet from 54 aircraft toward 36 by the end of 2026, far below an earlier plan for 100, with a later rebuild toward about 40 by 2031. Capacity will shrink from 9.6 billion available seat kilometers in 2026 on a Latvia-focused network that leans on year-round wet leases. A smaller fleet and a multi-year court process add network and credit risk. Leave current reservations in place and treat new bookings as a bet that the case does not slide into liquidation.
- Announced
- Sep 14, 2026
- Numbers
- 54 aircraft: current Airbus A220 fleet
- 36 aircraft: planned fleet after downsizing
- 100 aircraft: previously planned fleet size
- 89%: Latvian government ownership stake
- 10%: Lufthansa Group ownership stake
- € 350 million: debtor-in-possession financing
- 12%: interest rate on DIP financing
- 9.6 billion ASK: expected available seat kilometers in 2026
- Takeaway
- Do nothing on current reservations, keep booking only if you accept the risk, and watch whether the Chapter 11 stay on track or slides toward liquidation.