An Airline is Closing in America... Latvian Economist Draws 'Dangerous' Parallels 0 10

Recently active economist Guntars Vitols drew parallels between the situation with the American airline Spirit and our airBaltic. The picture is grim...

"A medium-sized airline is closing in America. The long road in the dunes was in some sense similar to airBaltic. Huge debts, the same problems with P & W engines, and there Trump offered to save (the electorate, many jobs), but on tough conditions, so the country wouldn’t lose money.

But nothing worked out. They proposed to restructure the loans, and the creditors said 'no'.

In Latvia, the situation is such that a collapse may soon begin; bondholders have hired lawyers (Hogan Lovells), but it’s unclear for what purpose. From the government side, the team is - rags, who fights with such using tanks?" - commented the expert on the social network X.