Case Summaries · airBaltic · Update
airBaltic: the September operating reports
The first monthly operating reports cover 14–30 September: $59.3m of operating receipts against $99.2m of disbursements, $86.0m of DIP draws and $58.2m of cash at month end.
airBaltic filed its monthly operating reports for the period from the petition date to 30 September on 21 October: Dkt. 162 for the main case, Dkt. 163 for Air Baltic Training SIA and Dkt. 164 for Baltijas Kravu Centrs SIA. Consolidated, the Debtors report operating receipts of $59.3 million against disbursements of $99.2 million. Net financing proceeds of $86.0 million and a $1.0 million IATA net settlement bridge the gap and leave net cash flow of $47.1 million for the period. The Debtors ended September with $54.3 million of unrestricted cash, $3.9 million restricted and $58.2 million in total, at an assumed EUR/USD rate of 1.14.
The largest disbursement was a $47.6 million EU Emissions Trading System surrender payment. Fuel was $18.4 million, other operating expenses $18.4 million and salaries and taxes $11.7 million. The reports show no payments on account of prepetition debt. Each report is on the site as a PDF: the main case, Air Baltic Training SIA and Baltijas Kravu Centrs SIA. The full docket is on the Epiq case site here.