✈️ SmartLynx Airlines enters legal protection amid restructuring
Latvian charter carrier SmartLynx Airlines has entered a legal protection process (TAP), approved by the Riga District Court on 28 October. The company must submit its restructuring plan by 28 February 2026. Tax debts to the State Revenue Service amount to €522 000. Following the October ownership change, 90 % of the airline was acquired by the Dutch Stichting Break Point Distressed Assets Management, while 10 % now belong to its Lithuanian managers.
Context: SmartLynx’s move marks the formal separation of the group’s Baltic units: the Maltese and Estonian subsidiaries stay with Avia Solutions Group, while the Latvian core becomes a stand-alone company under new investors. The TAP procedure reflects not only financial stress in the ACMI leasing market but also a geographic shift — strategic assets are moving away from Latvia, leaving the “home base” as a nominal flag.