AirBaltic plans to cut up to 700 jobs

By Reuters News

Oct 5 (Reuters) - Latvian airline airBaltic is preparing workforce layoffs that could affect about 500 to 700 positions across its bases in Riga, Vilnius and Tallinn.

  • The carrier filed for Chapter 11 bankruptcy in New York in September, aiming to complete a sweeping restructuring focused on cutting its mounting debt through capacity and fleet reductions

  • AirBaltic gained approval last month to access €140 million ($157 million) from a wider €350 million financing package

  • CEO Erno Hilden told Reuters in September that the airline was in talks with labour unions over "an adjustment" to the workforce

  • The company said on Monday that it is in talks with unions on potential reduced workload arrangements for pilots and cabin crew

  • New organisational structures for the rest of the company are expected to be defined by mid-October, airBaltic said

  • The final number of layoffs could change within the course of the process, it added

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