Klarnachrichten

Air Baltic asks for help in the USA

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Flights go on at Air Baltic

The airline Air Baltic has high debt. It uses a special law in the USA. This law is Chapter 11. It helps firms to heal. The firm makes new order in money.

Passangers do not worry. All flights happen as planned. Tickets stay valid. People buy new tickets. The airline also flies for Swiss.

Air Baltic gets much money for rescue. Partners give 350 million Euro. The firm keeps cash. The goal is a future without debt. The rescue lasts until June 2027.

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Definitions

Chapter 11
A law in the USA. It helps firms to heal while business goes on.
Debt
Money that a firm owes to others.
Cash
Money to pay bills on time.

Locations

USA
A country in North America where the firm uses the law.

Sources

Logo 20 Min
20 Min

Trotz Insolvenz: Was Air Baltic Passagieren mit gebuchten Flügen verspricht

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Logo FAZ
FAZ

Business-Liveticker: Lufthansa-Partner Air Baltic beantragt Gläubigerschutz | FAZ

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Logo Standard
Standard

AirBaltic flüchtet sich unter US-Insolvenzrecht

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Logo SRF
SRF

US-Insolvenz nach Chapter 11: Air Baltic will Schulden restrukturieren

Read now

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