2020 06 04 airBaltic VNO CDG
Latvia’s prime minister didn’t hedge his language. Andris Kulbergs called today’s bondholder vote “the last chance to really save airBaltic” — the actual description of the airline’s precarious situation. An initial vote on August 3 failed for lack of quorum. Today’s rescheduled vote decides whether airBaltic gets to convert part of its 2029 bonds into equity and recapitalize, or doesn’t.
A €13.775 million bond interest payment came due yesterday. Today’s outcome decides whether it gets paid in cash airBaltic doesn’t have much of, or capitalized into the debt instead.
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