AirBaltic Plans to Cut Up to 700 Jobs
Latvian airline airBaltic announced plans to cut between 500 and 700 jobs across its Baltic bases as part of a sweeping restructuring process. The carrier recently filed for Chapter 11 bankruptcy in New York to reduce mounting debt.
AirBaltic will cut 500 to 700 jobs across bases in Latvia, Lithuania, and Estonia. The carrier filed for Chapter 11 bankruptcy in New York in September to reduce debt. The restructuring tests investor confidence in the carrier's newly secured €140 million financing package.
