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World · 1 hour ago

AirBaltic files for Chapter 11 after Iran war doubles fuel costs

AirBaltic files for Chapter 11 after Iran war doubles fuel costs

The Latvian airline secured about €350 million from lenders to keep flying while it sorts out its debts. Bosses filed court papers in New York on Monday, saying jet fuel prices have doubled since the conflict began. The carrier owes about $583 million in debt and expects the restructuring process to finish by June.

Reported by Reuters · How we write briefs

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