Air Baltic’s Bonds Tumble as Mideast War Drives Up Fuel Costs
An Air Baltic passenger jet at Riga International Airport.
Photographer: Andrey Rudakov/BloombergAir Baltic Corp AS’s bonds have plunged as a surge in the aviation fuel price raised concerns over how the struggling Latvian airline will shoulder higher costs.
The price of the €380 million ($436 million) notes due in 2029 dropped around 16 cents on Thursday, their largest daily decline since being issued in 2024. They traded at around 67 cents on the euro, according to data compiled by Bloomberg.