Whether or not the bondholder vote takes place before or after the CH11 filing really makes no difference, considering its
Read MoreSeptember 11th was always going to be a bit of a day to get people to pay attention - for an Airline anyway. The meeting has been
Read MoreGood news. A group of Air Baltic bondholders seems to have agreed heads of terms with the airline for interim financing of a surprisingly precise
Read MoreGood for the bonds. Perhaps we were too rash in concluding that the €100m equity would have to be commercially viable. Only in July, Estonia's parliament dismissed a €14m offer from Latvia for a 10% stake. But Lithuania's Nausėda just left the
Read MoreIncremental news this morning as the Saeima (Latvian parliament) approves the financial stabilisation bill for Air Baltic, and at th
Read MoreWe said months ago that we wouldn't touch these bonds north of 20c/€, and we feel no need to rush in now until we know where the
Read MoreSo the trouble we are having this morning with the restructuring plan is the EV. Our plan foresaw projections very similar to the company's through '27, while
Read MoreGood news for the bonds. The Latvian government approved state purchases of Airbaltic bonds. This is only an instrument that could
Read MoreGood news for the bonds, perhaps. In an interview with Reuters, Latvian interims PM Andris Kulbergs has confirmed that the government is
Read MoreBonds are surprisingly steady on the news that the Estonian parliament wouldn’t support Air Baltic with fresh equity. We think the
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We understand bondholders have hired Houlihan and Lokey ahead of the inevitable restructuring of Air Baltic. The company showed the
Read MoreFun comment from Mr. O’Leary in the press this morning: "“If oil stays at these levels, two or three European airlines in October or
Read MoreLessors hiring Gibson Dunn to face Seabury, acting for the debtor, fits the downside narrative of a US CH11 process in
Read MoreAs per our initiation |M, subsequent commentary and Tuesday’s call, support for the Riga-based carrier is going to be a political lightning rod ahead of
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Air Baltic Client Call and presentation are now available on Air Baltic page.
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Inconsistencies. As we are in the final stages of deliberating over our positioning on Air Baltic, Bloomberg broke the news this morning that the company is
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