Today it became known that in the coming days, the American bankruptcy administrator, on behalf of the management of airBaltic, will file a lawsuit in New York seeking to initiate the reorganization and recovery process of the Latvian national airline. The formal reason for filing the lawsuit in an American court was the presence of a major creditor (albeit unsecured) being the American engine manufacturing company, Pratt & Whitney, to which airBaltic owes 66.5 million euros! What conclusions can be drawn? Conclusion one - the airline's management has realized that it can no longer survive on handouts or short-term loans at fantastic interest rates, and this will simply lead to bankruptcy. In other words, all limits for buying time and deferring payments are coming to an end. Conclusion two - to obtain serious financing (for a longer term and at reasonable interest rates), it is necessary to start restructuring - that is, changes in business approaches and debt restructuring. In fact, a legal protection process from creditors needs to be initiated to gain time for business recovery and a more gradual and flexible repayment of debts. Conclusion three - it has been decided to start this legal protection process in the USA, as this was apparently a requirement (condition) of international banks, which are ready to lend support until the restructuring is completed, providing a total loan of 350 million. This money should be enough for the company to operate, thereby earning money, and to pay for aircraft leasing. Conclusion four - it is still unclear what the Latvian state structures will do, to which the airline owes a significant amount of money: for instance, the State Revenue Service is owed 15 million euros. It is unlikely that the American court's decision on creditor protection will be binding for Latvia, and the State Revenue Service will patiently wait for the debt to be repaid for years - until the restructuring is completed. Conclusion five - one way or another, the airline, having begun the restructuring process and received a tranche from international banks, will continue its core activity, namely passenger air transportation. And this is the most important thing for passengers.