Overview
- The airline’s Supervisory Working Group approved the revised business plan that prioritises financial stability over growth on Tuesday, Aug. 11, 2026, setting a formal path for restructuring.
- airBaltic is seeking about EUR 225 million in interim financing and aims to raise roughly EUR 100 million of new equity to bridge to a permanent recapitalisation.
- The recapitalisation proposal asks noteholders to vote on partial equitization of the 2029 senior secured notes, with the first vote scheduled for Aug. 17, 2026.
- As an immediate operational change the carrier will cut its all‑A220 fleet from 54 to a smaller size by year‑end — most outlets report a reduction to around 36 aircraft while one report cites 26 — and plans to rebuild to roughly 40 by 2031.
- The plan refocuses the network on Riga and expands year‑round ACMI (wet‑lease) partnerships to keep scheduled capacity broadly stable through higher aircraft utilisation, but implementation hinges on creditor approvals, outstanding Airbus orders and ongoing engine and geopolitical pressures that could affect jobs and routes.