AirBaltic postpones key meeting of bondholders

Latvia’s airBaltic has pushed back a meeting of bondholders previously scheduled for Friday as it works to strengthen its finances and avoid a possible default. The airline, which is majority owned by the Latvian state, said it was seeking financing from bondholders as it moves to approve a recapitalization plan. airBaltic had asked for approval to raise up to €257 million ($298 million) through new super-senior debt due in 2027. Instead, the virtual meeting will now be held on September 15, with the carrier giving no further details. Reuters noted airBaltic as a test case for weaker airlines facing higher costs amid soaring jet fuel prices linked to the Iran war, with the new bonds taking top repayment priority.