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European airline AirBaltic has reassured passengers that its flights will "continue without interruption" after the company voluntarily filed for Chapter 11 bankruptcy protection in the US.
The Latvia-based carrier said on Monday that the Chapter 11 filing in New York would allow it to "restructure its financial obligations while continuing its operations". Air Baltic last month announced a new business plan, which includes reducing the size of its fleet to prioritize financial stability.
In a statement, AirBaltic said: "Flights will operate as scheduled, tickets and reservations will remain valid, and customer service will continue as usual. Refunds, vouchers, gift cards and credits related to baggage or service claims will continue to be handled in line with existing policies."
Erno Hildén, president and CEO of AirBaltic, added: "Our focus is on continuing to run the airline while implementing the changes set out in our new business plan. For our passengers, our operations continue as normal—the process does not affect their travel experience and is not noticeable to them—we are flying, selling tickets and planning our future schedule, with the same focus on safety and operational reliability."
AirBaltic is not the first European-based airline to use US bankruptcy protection rules to allow it to restructure its finances. Scandinavian carrier SAS went through a Chapter 11 process between 2022 and 2024.
Andrejs Martinovs, chairman of AirBaltic's supervisory board, said: "We have carefully assessed the restructuring options available to the company, with one priority in focus—to give AirBaltic the best possible basis to continue operating and to build a sustainable financial structure.
"Under court supervision and with protection from creditor claims, this process provides a clear framework and timetable for reaching agreements with creditors, including aircraft lessors and other stakeholders."
AirBaltic added that it had "secured a commitment" for €350 million in new financing to support the airline through the Chapter 11 process.
European airlines can use the US bankruptcy protection rules because their financing, creditors, aircraft leases and other obligations are "international in nature," explained AirBaltic in its statement.