airBaltic agrees on bridge financing terms of up to €257 million
Latvian airline airBaltic has reached an agreement with some of its existing bondholders and third-party financing providers on bridge financing terms of up to €257 million, the company announced.
National airline airBaltic has reached an agreement with a number of its existing bondholders, as well as with third-party financing providers, on the terms of bridge financing that could total up to €257 million. The airline confirmed the information itself.
This appears to be a temporary financing solution intended to bridge the company's current financial situation with future, longer-term financing steps. The specific purposes for which the funds will be used, or a timeline, were not detailed in the announcement.
Background
airBaltic is a Latvian state-owned airline that has in recent years actively sought additional capital to strengthen its financial base and continue its fleet renewal and development plans. The agreement with bondholders and external financiers on bridge financing terms indicates that the company continues working to secure its funding structure.
Further details on how and when this financing will be used, as well as its impact on the company's future financial standing, are not yet known. airBaltic representatives said additional information would be provided once available.
