airBaltic Secures Commitments for Up to €257 Million of Interim Financing

airBaltic has agreed terms for up to €257 million of interim financing as the Latvian carrier seeks additional liquidity to implement its revised business plan.

The financing would be provided by a combination of existing bondholders and third-party finance providers through newly issued bonds maturing on February 26, 2027. The providers have committed to make the full amount available, subject to required approvals and other conditions.

Under the proposed structure, €180 million would become available shortly after bondholder approval, with a further €77 million accessible once additional conditions are satisfied. A bondholder meeting to consider the transaction is scheduled for September 11.

The funding is designed to provide airBaltic with liquidity while management implements measures intended to improve efficiency and move the airline toward a more self-sufficient financial position.

The transaction does not require a new financial contribution from the Latvian government. However, Latvia may participate proportionally to its existing position as an airBaltic bondholder under recently adopted legislation.

The financing remains subject to approvals from airBaltic’s bondholders and shareholders and forms part of a broader financial restructuring accompanying the carrier’s new business plan.