airBaltic Seeks to Exit Three More Aircraft Leases

Latvian airline airBaltic has asked a US bankruptcy court for permission to reject leases on three additional Airbus A220-300 aircraft as part of its Chapter 11 restructuring.

A motion filed on November 6 with the US Bankruptcy Court for the Southern District of New York concerns aircraft registered YL-CSN, YL-CSL and YL-CSM. The airline is seeking to end the leases with effect from November 25.

The latest application follows an October 30 motion covering six other A220-300 aircraft, bringing the total number of aircraft subject to the two lease rejection requests to nine.

According to the court documents, the aircraft are no longer required under airBaltic’s revised business plan, while the cost of their leases exceeds prevailing market rates for comparable equipment.

The airline is continuing to review its long-term fleet requirements and anticipates further reductions, including the return of additional leased aircraft and surplus spare engines.

According to the November 6 filing, airBaltic’s fleet comprises 54 Airbus A220-300 aircraft, including 46 leased and eight owned aircraft.

The hearing on the latest motion is scheduled for December 9. The proposed lease rejections remain subject to court approval.

Sources: Court document No. 197, November 6 · Court document No. 172, October 30.