airBaltic reports 128.2 million euro loss amid Chapter 11 restructuring

Latvian national airline airBaltic Group reported a significant increase in losses, recording 128.2 million euros for the first half of 2026, compared to 1.7 million euros in the same period of 2025. Despite this, the group saw a 14.2% year-on-year revenue increase to 399.2 million euros, driven by a 15% rise in passenger numbers to 4.4 million.

In parallel, the Southern District of New York Bankruptcy Court has approved several motions allowing the airline to maintain day-to-day operations during its Chapter 11 proceedings. These approvals permit airBaltic to continue critical aviation contracts, maintain insurance coverage, manage customer loyalty programs, and fulfill employee compensation obligations. The airline remains required to report major payments under these contracts to creditor representatives. A hearing regarding 35 million euros in debtor-in-possession financing has been postponed to October 19.