Court to Review AirBaltic Advisor Fees on October 19
A U.S. bankruptcy court will hear a request for a 250,000-euro monthly fee for financial adviser Seabury.
Updated on Oct. 16, 2026 in Business Travel
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AirBaltic has asked a U.S. court to authorize a 250,000-euro monthly fee for its financial adviser, Seabury, as part of its ongoing Chapter 11 restructuring. The court is scheduled to consider the application on October 19, 2026.
Why it matters
The requested payments cover essential investment banking and advisory services required to guide the airline through its complex Chapter 11 bankruptcy process. Securing these financial agreements is a necessary step for the carrier to maintain operations and navigate its restructuring efforts.
AirBaltic is currently managing 350 million euros in debtor-in-possession financing as it navigates its bankruptcy. The airline reported 779.344 million euros in revenue for 2025.
The players
AirBaltic
This Latvian airline is the national carrier of its home country and is majority-owned by the Latvian state.
Seabury
This is a global firm providing investment banking and financial advisory services to companies undergoing complex restructurings.
The details
The firm Seabury has served as an adviser to the airline since March 2026, receiving 872,715 dollars in the 90 days prior to the bankruptcy filing. The proposed compensation package also includes success-based fees capped at 18 million euros.
Timeline
Seabury began providing advisory services to airBaltic in March 2026.
Milbank began work on the potential restructuring in April 2026.
AirBaltic engaged Riveron RTS for restructuring assistance on October 2, 2026.
A court hearing to consider the Seabury fee application is scheduled for October 19, 2026.
The airline anticipates completing the Chapter 11 restructuring by mid-2027.
Travel Outlook
The use of international bankruptcy protections by regional carriers follows a pattern set by other major aviation industry restructurings under Chapter 11 of the United States Bankruptcy Code. These moves reflect broader efforts by airlines to preserve fleet liquidity and operational viability during volatile financial periods.
Passengers should monitor official airline communications for updates, as restructuring processes can lead to schedule adjustments or changes in service routes. Travelers should ensure they have travel insurance and stay informed regarding the airline's status throughout the planned mid-2027 completion of the proceedings.
The takeaway
Large-scale corporate restructuring often involves multi-million euro advisory fees that must be authorized by the court. Business travelers should remain aware that these legal proceedings are part of a long-term plan intended to stabilize the airline's operations by 2027.
What happens next
The court hearing to determine the approval of the Seabury fee application is set for October 19, 2026.
Further reading
For more information on the evolving state of international carriers, visit Business Travel.
Source note: This article includes information reported by Baltic News Network - News from Latvia, Lithuania, Estonia.
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