US Court Accepts airBaltic Chapter 11 Filing, Latvian Prime Minister Says
4 Articles
4 Articles
US court accepts airBaltic Chapter 11 filing, Latvian prime minister says
Sept 16 (Reuters) - A U.S. court judge has accepted Latvian carrier airBaltic's request to enter Chapter 11 under the U.S. bankruptcy code and restructure its debt, Prime Minister Andris Kulbergs said on Wednesday. "This means that airBaltic will be ...
The Latvian airline AirBaltic, the largest airline in the Baltic countries, voluntarily applied for protection under Chapter 11 of the U.S. Bankruptcy Code in New York on Monday, emphasizing that this is not about shutting down the company, but about restructuring the debt burden needed to survive the severe crisis caused primarily by the war with Iran.
The Latvian airline airBaltic requested protection under Chapter 11 of the bankruptcy legislation of the United States, with the aim of restructuring its financial obligations and achieving a more sustainable capital structure. The company, controlled by 88.37% by the State of Latvia and with Lufthansa as shareholder with 10%, assured that the process will not affect passengers and that its flights will continue to operate normally. As part of t…
airBaltic has started a voluntary bankruptcy process under the protection of Chapter 11 of the bankruptcy law in the United States in order to restructure its financial obligations while continuing its operations, burdened by the impact of the conflict in the Middle East and immersed in a new road map with [...] AirBaltic entry is declared bankrupt in the United States, burdened by the conflict in the Middle East aparece primero en Forbes España.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
