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airBaltic Bankruptcy Filing Called a Risky Gamble

Latvian Prime Minister Andris Kulbergs said that state-owned airBaltic took a gamble by filing for US bankruptcy protection. The carrier is struggling with high fuel costs and needs to attract a strategic investor.

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FILE PHOTO: AirBaltic Airbus A220-300 plane takes off in Riga, Latvia March 16, 2020. REUTERS/Ints Kalnins/File Photo

State-owned airBaltic took a gamble by voluntarily filing for U.S. Chapter 11 bankruptcy protection to restructure, Prime Minister Andris Kulbergs said on Wednesday.
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