airBaltic Seeks Court Approval to End Six A220 Leases

Latvian airline airBaltic has asked a US bankruptcy court for permission to terminate leases on six Airbus A220-300 aircraft as part of its financial restructuring. The motion was filed in New York on 30 October.

airBaltic says the six aircraft are no longer needed under its revised business plan and that their lease terms are more expensive than current market rates for comparable aircraft.

airBaltic currently operates 54 A220-300 aircraft, including 46 leased and eight owned aircraft. The company is also reviewing further fleet reductions, which could involve returning additional aircraft and spare engines.

All six aircraft covered by the motion are at Riga Airport. airBaltic wants the lease terminations to take effect on 17 November, when the court is scheduled to hear the application. Creditors and other interested parties have until 10 November to file objections.

The court has not yet approved the request. Any further lease terminations would require separate approval.