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airBaltic seeks to hand back three more A220s, including its Latvian flag jet
The airline has asked a US court to let it end the leases from 25 November, saying the aircraft no longer fit its fleet plan and cost more than market rates. It has now sought to drop nine leased jets in restructuring.
Mārtiņš Lasmanis· Editor-in-chief
Prepared by the S Ziņas newsroom·
airBaltic, Latvia's national airline, which has been restructuring its debts under Chapter 11 of the US Bankruptcy Code, wants to give up three more leased Airbus A220-300s. One of them is YL-CSL, painted in the colours of the Latvian flag in 2018 to mark the country's centenary. The airline filed the motion with the US Bankruptcy Court for the Southern District of New York on 6 November, the Latvian news agency LETA reported.
Why these three
airBaltic took delivery of all three aircraft, YL-CSN, YL-CSL and YL-CSM, in the autumn and winter of 2018. In its filing, the airline said a review of its long-term fleet needs found they no longer fit its business plan and that their lease rates exceed current market rates. Michael Cox, chief executive of restructuring adviser Seabury Global Advisors, told the court that keeping surplus aircraft would create costs without matching benefit.
The airframes are parked at Riga airport. YL-CSN is leased from Ireland-registered MACH AOE 2, and the other two from EOS Aviation 18 (Ireland). The airline wants the leases to end on 25 November.
Nine jets so far
This is not the first such move. On 30 October airBaltic asked the court for permission to reject leases on six A220s from 17 November, bringing the total in the restructuring to nine aircraft. The company plans to shrink its fleet further by returning other leased aircraft and surplus spare engines.
According to court filings, airBaltic operates 54 A220-300s: 46 leased and eight owned. It bought out those eight, along with seven engines, using court-approved financing; on 19 October the court allowed it to raise up to €350 million.
What passengers need to know
The airline says flights are operating as scheduled and existing tickets and bookings remain valid. Chapter 11 protects airBaltic from creditor claims, and the process ends with a reorganisation plan that the court must approve, possibly in mid-2027. The Latvian state owns 88.37% of airBaltic and Lufthansa 10%.
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