Air Baltic

Latvian carrier is preparing to cut up to 23% of its workforce across the Baltic region as part of restructuring efforts following its Chapter 11 bankruptcy filing. Air Baltic is planning workforce reductions affecting between 500 and 700 positions across its bases in Riga, Vilnius and Tallinn as it adapts to a revised business model.… The post Air Baltic to slash hundreds of jobs under restructuring first appeared on FlightGlobal.

US bankruptcy court approves initial €140 million in finance to support Latvian carrier’s Chapter 11 restructuring. Air Baltic has secured court approval for the critical funding it requires to maintain operations as it embarks on its US Chapter 11 restructuring process. The company has been been authorised to access the initial tranche of a €350… The post Air Baltic secures access to critical funding as it details brush with ‘liquidity cliff’ first appeared on FlightGlobal.

Latvian carrier secures debtor-in-possession financing commitment as it seeks to implement new business strategy. Latvian carrier Air Baltic has voluntarily filed for US Chapter 11 bankruptcy protection, in order to enable the airline to restructure its operations and financing. The loss-making airline, primarily owned by the government, has recently unveiled a new business plan, through… The post Air Baltic files voluntarily for US Chapter 11 bankruptcy protection first appeared on FlightGlobal.

Latvian carrier envisages a long-term fleet of around 40 A220-300s as it works on €225m interim recapitalisation. Air Baltic is to cut its fleet to around 40 Airbus A220-300s under a new long-term strategic plan, supported by moves for an initial interim €225 million ($260 million) recapitalisation. The Latvian carrier operates a fleet of 54… The post Air Baltic to reduce A220 fleet under new business plan first appeared on FlightGlobal.

Former Air Baltic executives seal pact focused on network connectivity at Bahrain. Middle Eastern carrier Gulf Air has unveiled a tie-up with premium leisure operator Beond, intended to offer expanded connectivity. The agreement has been disclosed by Gulf Air chief Martin Gauss and Beond head Tero Taskila — both formerly senior figures at Baltic carriers.… The post Gulf Air unveils ‘strategic’ tie-up with premium leisure carrier Beond first appeared on FlightGlobal.