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AirBaltic CEO: AirBaltic is in negotiations with unions about reducing staff as part of restructuring.

AirBaltic has been in discussions with the labour unions in order to reach an agreement regarding an "adjustment of?the workforce", Chief Executive Erno Hilden said on?Monday, after the Latvian airline announced that it had voluntarily entered Chapter 11 bankruptcy proceedings.

Hilden stated that a reduction in capacity would lead to a shift in the workforce.

It's time to come up with some numbers after all that.

AirBaltic filed under Chapter 11 of the U.S. Bankruptcy Code on Monday in New York. It is seeking to restructure its debt, avoid creditors and survive a 'deepening crisis within the sector brought about by the Iran War.

Hilden was previously the CFO of Scandinavian Airlines, where he led the company through a similar process. He added that airBaltic operations would not be interrupted or changed during the Chapter 11 proceedings.

He said the most significant changes would be made to the "wet leasing" business of the airline, which involves lending out planes and crews to other carriers for a fee.

Chairperson of the Latvian Aviation Union,?Dacekavasa, said? The Latvian aviation union's chairperson,?Dace Kavasa, told?

The consultations on collective dismissal are still ongoing. Many unknowns exist. Kavasa stated that there are serious disagreements about the objectivity of certain?proposed criterion. They hoped for some positive decisions to be made by the end the week.

(source: Reuters)