Latvian Political Monitor

From@AndrisKulbergs

My statement on airBaltic Today, airBaltic is initiating financial restructuring in a US court under Chapter 11. This time we are not buying a few more months of life support for the airline. We are beginning to solve problems at their core. It must be admitted that negotiations with bondholders were not progressing. Several investors, who had bought the bonds on the exchange at about 70 percent of their nominal value, were more reliant on airBaltic's liquidation and recovery of pledged assets rather than on restructuring the company. Another loan of up to 257 million euros at an annual rate of 25% was offered. That could provide the company with money for the near term, but would not solve either the previously accumulated debt or the problem of aircraft lease obligations. Therefore, I did not accept this offer as a long-term solution. Chapter 11 is a US court-supervised financial restructuring that allows airBaltic to continue flying while restructuring debts and lease agreements and attracting the financing needed for operations. Simply put, it is a protective shield that gives the company time and legal protection against creditor claims, allowing management to implement a full restructuring plan. This does not yet mean that all of airBaltic's problems are solved. But this is one of the best currently possible solutions to ensure the company's viability and give it the chance to stand on its own feet. For the process, airBaltic has received commitments from financiers to provide 350 million euros in new financing at a 12% rate. International financial market participants such as banks Morgan Stanley, Barclays, and private financiers Hayfin Capital Management, Oaktree Capital, and Strategic Value Partners have expressed readiness to finance. This is a significant and positive signal of trust. At the same time, I have instructed the Ministry of Transport to declassify restricted government documents related to airBaltic, so that the public finally has full information about the decisions made within the company, the use of state money, and the consequences of those decisions. The most important news for passengers is that airBaltic continues operations, the planes continue flying, and purchased tickets remain valid. This is not yet the finish and not a victory statement. But a process that addresses airBaltic's problems at their core has finally begun.

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From@AndrisKulbergs

My statement on airBaltic Today, airBaltic is initiating financial restructuring in a US court under Chapter 11. This time we are not buying a few more months of life support for the airline. We are beginning to solve problems at their core. It must be admitted that negotiations with bondholders were not progressing. Several investors, who had bought the bonds on the exchange at about 70 percent of their nominal value, were more reliant on airBaltic's liquidation and recovery of pledged assets rather than on restructuring the company. Another loan of up to 257 million euros at an annual rate of 25% was offered. That could provide the company with money for the near term, but would not solve either the previously accumulated debt or the problem of aircraft lease obligations. Therefore, I did not accept this offer as a long-term solution. Chapter 11 is a US court-supervised financial restructuring that allows airBaltic to continue flying while restructuring debts and lease agreements and attracting the financing needed for operations. Simply put, it is a protective shield that gives the company time and legal protection against creditor claims, allowing management to implement a full restructuring plan. This does not yet mean that all of airBaltic's problems are solved. But this is one of the best currently possible solutions to ensure the company's viability and give it the chance to stand on its own feet. For the process, airBaltic has received commitments from financiers to provide 350 million euros in new financing at a 12% rate. International financial market participants such as banks Morgan Stanley, Barclays, and private financiers Hayfin Capital Management, Oaktree Capital, and Strategic Value Partners have expressed readiness to finance. This is a significant and positive signal of trust. At the same time, I have instructed the Ministry of Transport to declassify restricted government documents related to airBaltic, so that the public finally has full information about the decisions made within the company, the use of state money, and the consequences of those decisions. The most important news for passengers is that airBaltic continues operations, the planes continue flying, and purchased tickets remain valid. This is not yet the finish and not a victory statement. But a process that addresses airBaltic's problems at their core has finally begun.

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From@anneapplebaum

Your regular reminder: If the Russians stop fighting, the war ends. If the Ukrainians stop fighting, their land will be occupied, their leaders will be killed, their history and language will be erased, their children will be kidnapped to serve Russia.

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From@USEmbassyRiga

Ambassador Argyros joined U.S. Ambassador to the European Union Puzder @USAmbEU and @Latvian_MFA Minister Braže to discuss paths to enhance the U.S.-Latvia relationship, including boosting economic ties by increasing energy collaboration, aligning critical supply chains, and working to enhance pro-business policies in international fora. 🇱🇻🇺🇸 #USLatvia #StrongerTogether

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From@atis_svinka

PISA 2025 results are a warning, as the reading literacy of Latvia's fifteen-year-olds is at the lowest level ever recorded in this study. This cannot be left to the enthusiasm of families and individual teachers. Reading begins at home, with a book read to a child by parents, and the example set by adults. But the school must be able to help also a child who lacks such support at home. The National Education Development Agency promises to make reading literacy a national priority. Now a concrete plan is needed. Support for teachers, timely detection of difficulties, and accessible books for every child. And a clear measurement of whether reading literacy really improves after a few years. https://t.co/2fki4FJW9D

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From@BohuslavskaKate

Russians are starving the occupied town of Oleshky right now, killing Ukrainians under occupation and burying them in mass graves, jailing them, kidnapping Ukrainian children, raping, looting, torturing. It's shocking and infuriating to me that anyone would advocate for Ukraine to give them more of our land... and people.

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From@karlwithanl

These may be the penultimate elections before Sweden is irreversibly lost. How can a nation lose its mind so unprecedentedly - that is the merit of far-left politicians. The situation is especially devastating in Malmö and its agglomeration, where the percentage of ethnic Swedes is extremely low, because 95% of residents and therefore the electorate there are of non-Swedish origin; of course, there is also 97% support for leftists. And we Latvians must not make a similar mistake: like Swedes, Latvians also have mentally very close socialist values, but socialist values sooner or later lead a country to the abyss. It is only a matter of time, but Unity with its satellites has already pumped Riga (and now not only Riga) full of potential future electorate. The fact that most of them do not yet have rights is a matter of time - leftists will be able to arrange everything as necessary. Unlike Sweden, we have not had the fortune to live in prosperity and peace for nearly a century, we can destroy everything even without being able to crawl out of the historical pile of shit, that's the focus. Although, I do not place vain hopes on Latvians' ability to learn in real time - it never happens that way, Latvians must fundamentally step on the same rakes, and do it with particular diligence.

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