Revealed: airBaltic's biggest creditor is an aviation engine giant

A filing submitted by Latvia's national airline airBaltic to a US bankruptcy court has revealed the company's list of largest unsecured creditors, topped by aircraft engine manufacturer Pratt & Whitney, which is owed $66.518 million.

The filing was submitted jointly by airBaltic and its subsidiaries, Air Baltic Training and Baltijas kravu centrs. According to the document, the airline has an estimated 10,001 to 25,000 creditors in total, while both its assets and liabilities are estimated to fall somewhere between $1 billion and $10 billion.

Largest claims

The second-largest unsecured claim belongs to the state-owned Latvian Environment, Geology and Meteorology Centre, owed $42.432 million, followed by the Latvian state, represented by the Ministry of Transport, which is owed $20.067 million. The State Revenue Service's claim stands at $15.428 million.

Other creditors listed include Riga Airport, owed $9.071 million, and European air navigation safety organization Eurocontrol, owed $5.589 million. Several international companies also appear on the list: Netherlands-based energy firm Shell Energy Europe, Ireland-registered aircraft lessor Macquarie Aircraft Leasing Services, Irish trust and financial services provider Wilmington Trust SP Services, and Airbus Flight Hour Services, part of the Airbus group.

All remaining creditors on the list have individual claims of less than $3 million each.