Air Baltic owes more than €40 million in ETS allowance costs, its main creditor being the Latvian state and the European Union.
68% confidence
TransportLatvia
Omissions
The ETS figures appear in airBaltic's US bankruptcy/restructuring court filings expressed in US dollars ($42.4 million 'ETS Scheme Payments'; ~$49.2 million 'EU ETS surrender obligation'), so the claim's 'over €40 million' depends on currency conversion and is not a figure stated in euros in the sources.
The claim describes the Latvian state (or the EU) as airBaltic's 'main creditor'; in reality the bondholders (about €380 million of 2029 senior secured notes) and engine manufacturer Pratt & Whitney (~$66.5 million) are larger creditors, so 'main creditor' is a selective framing of one debt line.
The ETS debt is owed to the Latvian Environment, Geology and Meteorology Centre (LEGMC), a Latvian state agency administering the EU ETS, not to the EU institutions directly.
The figures come from court/restructuring documents published in 2026, shortly before the session date of 2026-10-06.
PrimaryPacerMonitor (airBaltic court filing excerpt)... ETS SCHEME C $42,431,900.00 AND METEOROLOGY CENTRE lvgmc@lvgmc.lv PAYMENTS ... airBaltic Executive Board Meeting No 78E/2026 ...
SecondaryQuantum Commodity Intelligence (QCI)Air Baltics owes $42.4 million for "ETS Scheme Payments" to the Latvian Environment, Geology and Meteorology Centre (LEGMC), the court documents ...
SecondaryLSM.lv (Latvian Public Broadcasting)Liabilities to the engine manufacturer Pratt & Whitney amount to 66.5 million US dollars, the Latvian Centre for Environment, Geology and ...