Dublin flights continue 'as scheduled' as Air Baltic files for Chapter 11 bankruptcy protection

Airline says all flights operating as scheduled and passengers can continue to book and travel with Air Baltic

Air Baltic says flights to Ireland and Europe will be unaffected after it filed for Chapter 11 bankruptcy protection in the US on Monday as part of a financial restructuring aimed at reducing its debt.

Air Baltic says flights to Ireland and Europe will be unaffected after it filed for Chapter 11 bankruptcy protection in the US on Monday as part of a financial restructuring aimed at reducing its debt.

The Latvia aairline flies daily from Dublin Airport to its hub at Riga. The carrier, in which the Latvian government owns a majority stake, said flights would continue as normal after the company has secured a commitment for €350m through debtor-in-possession financing from lenders including Strategic Value Partners, Barclays, Hayfin Capital Management, Morgan Stanley, and Oaktree Capital Management.

"Flights and services continue without interruption: all flights are operating as scheduled, tickets and reservations remain valid; passengers can continue to book and travel with Air Baltic as usual," the airline said in a statement. "The process is intended to provide Air Baltic with a stronger, more sustainable capital structure, a competitive cost position and a solid foundation for the future."

Andrejs Martinovs, chairman of the Air Baltic supervisory board said: "This process will of course require strict financial discipline, and the company will have to meet a number of important conditions along the way. Our aim is to complete the process with a financially stronger airBaltic and a substantially reduced level of obligations that the company can sustainably manage over the long term."