Latvia’s ailing national airline, airBaltic, will stop flights from Riga to Innsbruck altogether, suspend flights to Bucharest, Budapest, Oulu, and Sofia, and reduce flights to Copenhagen, Madeira, Munich, Oslo, Prague, and Vienna in the winter season of 2026/2027, LETA reports. Earlier, the airline announced that it would suspend flights on more than ten other routes. The company said that the reason for the reductions was the rise in aviation fuel prices. Meanwhile, airBaltic has begun restructuring its financial obligations in accordance with the Chapter 11 procedure approved by a US bankruptcy court, LETA reports. The company has received the first tranche of EUR 140mn out of a total of EUR 350mn in financing from a group of financiers. The company is due to receive another EUR 35mn soon. The airline expects to receive EUR 125mn in the second tranche and EUR 50mn in the third tranche. The company plans to complete its reorganisation by the middle of 2027.
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