- airBaltic is seeking permission to terminate six A220 lease agreements from Ireland
- The lessor for all six aircraft is Wilmington Trust SP Services (Dublin) Limited
- airBaltic plans to further reduce its fleet
- The airline operates 54 Airbus A220-300 aircraft
- The hearing is scheduled for 17 November
AirBaltic is seeking permission to terminate six A220 lease agreements from Ireland as part of its financial restructuring under US Chapter 11 bankruptcy protection. The lessor listed for all six Airbus A220-300 aircraft is Wilmington Trust SP Services (Dublin) Limited. Companies within the Azorra Group are designated as additional notice recipients, and Artemis Funding Limited is involved as a recipient for one of the six aircraft.
airBaltic has determined that these six aircraft are no longer necessary for its long-term operations, noting that their current lease rates exceed market value. The airline has asked the court to allow it to terminate the lease agreements and to approve the procedure for returning the aircraft to the lessors. All six aircraft are currently located at Riga Airport, and airBaltic is requesting that the termination take effect on 17 November.
The application applies to aircraft with registration numbers YL-CSI, YL-ABD, YL-ABE, YL-ABF, YL-BTC and YL-BTD. airBaltic notes that, prior to initiating the financial restructuring process, it conducted a comprehensive assessment of its fleet needs and concluded that these six aircraft no longer fit within its business plan. Currently, airBaltic operates 54 Airbus A220-300 aircraft, 46 of which are leased under operating leases, while eight are owned by the airline.
