Latvia’s national air carrier, airBaltic, may cut 500-700 jobs at its bases in the three Baltic capitals, BNS reports. The company is in talks with trade unions on potential layoffs, which could affect about 20% of its total workforce. Currently, the airline employs around 3,000 people in the Baltic States. Earlier, airBaltic filed for Chapter 11 bankruptcy at a court in the United States, LSM reported. Andrejs Martinovs, airBaltic’s supervisory board chairman, explained that the move would allow the company to continue flights while restructuring its operations. The bankruptcy court in New York approved the release of a first tranche of EUR 140mn out of total planned financing of EUR 350mn from international investors, LSM reported.
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