AirBaltic Delays Bondholder Meeting
Latvia airline airBaltic has postponed a critical bondholder meeting to September 15. The carrier is seeking approval to raise up to €257 million in new debt to shore up finances.
Latvia's state-backed airBaltic postponed a bondholder meeting from Friday to September 15, seeking approval to raise up to €257 million ($298 million) in new debt. The rescheduling gives investors additional time to review the draft resolution and submit voting instructions ahead of the virtual vote. The carrier is racing to avert a default after soaring fuel costs put severe pressure on its balance sheet.
