airBaltic cuts up to 700 jobs (marketscreener.com)

Latvian airline airBaltic is preparing to cut 500-700 jobs across its bases in Riga, Vilnius and Tallinn after filing for Chapter 11 bankruptcy in New York in September and gaining approval for EUR140 million from a EUR350 million financing package. The Latvian aviation union chair called the move "pure union busting" and said it learned of the plan six minutes before an employee meeting.