Aviation Business News

The approved amendments allow airBaltic to capitalise interest due on August 14 and November 14, adding the relevant interest to the bonds’ principal rather than paying it in cash, subject to the terms of the amended bond documentation.

Bondholders also approved a temporary waiver of the minimum liquidity requirement until November 14, along with a temporary disapplication of certain requirements tied to the Bond Service Reserve Account. Amendments to notice periods and quorum requirements for future bondholder meetings were also passed.

airBaltic said the measures are designed to preserve the company’s liquidity and support implementation of its revised business plan, which centres on a Riga hub, a right-sized Airbus A220-300 fleet, more efficient aircraft utilisation and a lower cost base.

The airline confirmed it continues to work towards interim financing with key stakeholders, though the terms of that financing were not on the agenda for the August 17 meeting and were not voted on. airBaltic said further information on interim financing terms will be provided to bondholders separately once available.

The company noted the resolutions were approved in connection with a supplemental meeting notice it issued on July 28, and that the amendments will now be implemented through amendments to the relevant Trust Deed.

airBaltic said the approved resolutions do not affect its operations, and that it continues to operate its full flight schedule.

Pricing, order book and delivery timeline data related to airBaltic’s fleet plans were not disclosed in the announcement, nor were the specific terms under discussion for the interim financing package.

Bondholders representing more than 25% of the outstanding principal attended the meeting, meeting the required quorum, and more than 75% of those voting backed each resolution, according to the airline.

21 August 2026

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