Future of airlines: bankrupt, ceased operations, restructurations

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Atlantis
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Future of airlines: bankrupt, ceased operations, restructurations

Post by Atlantis » 29 Nov 2019, 17:24

Maybe to start this topic as lately there is more and more news regarding airlines who probably will go bankrupt. Not only small or unknown airlines but also bigger ones.

Since yesterday there is news that Air India is looking for the last chance. The government wants to sell the company to a private company. Nobody is interested as the depts are really high. The government however would withdraw a huge part of the depts.
If no candidate will be found, Air India will disappear

The second one for today is Hong Kong Airlines. Financial conditions are really bad, wages are not paid and the last long haul to Vancouver is axed.

SAA is the other one which is discussed lately. A matter of time? It's already for many years on this way.

Alitalia is also on the balance of alive or dying. Lufthansa and Delta were the last two big ones to take a bit. But Delta refused if LH also would step in

There are also other ones who have for the moment some restructurations
Last edited by Atlantis on 29 Nov 2019, 23:55, edited 1 time in total.

Boeing767copilot
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by Boeing767copilot » 29 Nov 2019, 18:22

THE LIST OF AIRLINES WHICH WENT DOWN THE DRAIN SINCE 2017 ... Air Berlin, Monarch, Darwin, Niki, PAWA, Nature Air, Aserca Airlines, Latin America Wings, Santa Bárbara Airlines, Air Arabia Jordan, Nextjet, Saratov Airlines, Skywork, VLM, Wataniya Airways, Azul Air Germany, Small Planet Germany, Primera Air, Cobalt Air, Small Planet Poland, Small Planet Lithuania, Royal Wings, VLM Brussels, Privatair, Germania, FlyBMI, Shaheen Air, Insel Air, Bulgarian Eagle, Wow Air, Jet Airways, Avianca Brasil, Yan Air, Avian Lineas Aereas, Nórdica, Aigle Azur, XL Airways, Adria Airways, Peruvian Airlines, Atlas Global ...


And who is next?

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Airbus330lover
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by Airbus330lover » 29 Nov 2019, 18:22

If we consider the loss of Air India and the loss of SAA, Kaizer CS will have a problem with STAR, TG is also in the problems.... 3 members in difficulties

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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by jan_olieslagers » 29 Nov 2019, 18:44

[[ excuse me for nit-picking ... ]] s/seased/ceased/ in the thread title?

JOVAN
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by JOVAN » 29 Nov 2019, 22:41

Airbus330lover wrote:
29 Nov 2019, 18:22
If we consider the loss of Air India and the loss of SAA, Kaizer CS will have a problem with STAR, TG is also in the problems.... 3 members in difficulties
Plus SN, OS, EW...

Passenger
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by Passenger » 29 Nov 2019, 23:52

It didn't took long before this topic derailed just like like most other topics.

"Kaizer CS". De nieuwe kleren van de keiser, indeed.

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Atlantis
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by Atlantis » 30 Nov 2019, 00:24

The subsidiary of Norwegian Airlines in Argentina will stop selling tickets after 28 March 2020. They are flying with a few B737-800.

Passenger
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by Passenger » 30 Nov 2019, 11:23

JOVAN wrote:
29 Nov 2019, 22:41
Airbus330lover wrote:
29 Nov 2019, 18:22
If we consider the loss of Air India and the loss of SAA, Kaizer CS will have a problem with STAR, TG is also in the problems.... 3 members in difficulties
Plus SN, OS, EW...
You have forgotten Air Belgium in your list. Their world tour for Safrans du Monde failed, and they haven't realized the capital increase with 7M Euro, announced in July 2019. So if SN is as risk, then ABB is at risk too.

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Conti764
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by Conti764 » 30 Nov 2019, 14:49

Airbus330lover wrote:
29 Nov 2019, 18:22
If we consider the loss of Air India and the loss of SAA, Kaizer CS will have a problem with STAR, TG is also in the problems.... 3 members in difficulties
More LH and/or LX flights to South-Africa and India (aviation hotspot) and possibly to Thailand. I see the LHG as the winner in this since it will be their revenue i.s.o. of someone elses...

Star has 26 full members, compared to ST (19) and OW (13)... They can manage some losses in member airlines I presume...

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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by TLspotting » 30 Nov 2019, 15:19

Hong Kong Airlines is on the verge of bankruptcy.

So let's summarise :

- Norwegian Air Argentina - 31 March 2020 if not sold
- Atlasglobal
- SAA
- Hong Kong Airlines
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

JOVAN
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by JOVAN » 30 Nov 2019, 16:53

Passenger wrote:
30 Nov 2019, 11:23
JOVAN wrote:
29 Nov 2019, 22:41
Airbus330lover wrote:
29 Nov 2019, 18:22
If we consider the loss of Air India and the loss of SAA, Kaizer CS will have a problem with STAR, TG is also in the problems.... 3 members in difficulties
Plus SN, OS, EW...
You have forgotten Air Belgium in your list. Their world tour for Safrans du Monde failed, and they haven't realized the capital increase with 7M Euro, announced in July 2019. So if SN is as risk, then ABB is at risk too.
I wish and hope all this airlines will survive.
Of course especially SN will hopefully get better with a professional plan where biz men have all attention, with of course a place for tourists and city-tripers, 0&D,..
As for Air Belgium Safrans du Monde World Air Cruise : there was a truck that hit the plane at Lima airport.
I imagine that insurance companies cover this kind of accidents. The PAX had some days delay in Lima, cancelled les Iles de Pacques (force majeure). It was not a (complete) failure.
Some compensation can be found probably by the agency and airline. (cheap ticket to Martinique ?).
I also hope they will do well, with tourists mainly.

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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by Passenger » 02 Dec 2019, 15:36

TLspotting wrote:
30 Nov 2019, 15:19
Hong Kong Airlines is on the verge of bankruptcy.
Update by the Hong Kong government:
Air Transport Licensing Authority attaches new licence conditions to Hong Kong Airlines Limited
In the light of the ongoing financial problems of Hong Kong Airlines Limited (HKA), ATLA has been closely monitoring the financial situation of the airline over a long period of time in accordance with Regulation 15D(1) of the Air Transport (Licensing of Air Services) Regulations (Cap. 448 Subsidiary Legislation A), and has repeatedly asked HKA to submit financial improvement plans. Since December 2018, ATLA has issued six press releases to inform the public of the financial problems of HKA and the follow-up work of ATLA.

ATLA met the senior management members of HKA again on November 29, 2019, and heard the representation and explanations made by them about the latest financial position of HKA. Having considered the latest financial position of HKA, ATLA was of the view that HKA's financial position has deteriorated rapidly to such an extent that has severely impacted on HKA's capability in meeting its obligations as an employer to pay salary and the probability of providing a satisfactory service under its licence in respect of continuity and regularity of operation. ATLA found the situation extremely worrying. After careful deliberation, ATLA decided today (December 2) to attach new conditions to HKA's licence as per Regulation 15E (2)(b) of the Regulations that HKA should enhance its financial situation to such a level as already required by ATLA over a period of time.

A spokesman for ATLA said, "After careful consideration of the financial position of HKA at present, ATLA must take immediate and resolute action to prevent further deterioration of HKA's situation in order to protect public interests. In accordance with the two new licence conditions attached by ATLA, HKA must, by a deadline set, ensure cash injection at a level determined by ATLA (or provide an alternative to the satisfaction of ATLA), and raise and maintain its cash and cash equivalent level as stipulated by ATLA."

If HKA fails to improve its financial situation as required by ATLA by the deadline, ATLA will take further action under Regulation 15E of the Regulations, which provides for revocation or suspension of licence. ATLA would announce its decision by December 7, 2019.
Source:
https://www.info.gov.hk/gia/general/201 ... 200369.htm

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Atlantis
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by Atlantis » 03 Dec 2019, 22:07

Hong Kong Airlines received a loan of 511 million euro from 8 different banks. This to cover a lot of practical and operational costs

globetrotter
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by globetrotter » 04 Dec 2019, 10:24

Tus Air said to be reorganising and has temporarily suspended operations.

globetrotter
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Re: Future of airlines: bankrupt, seased operations, restructurations

Post by globetrotter » 04 Dec 2019, 10:27

Boeing767copilot wrote:
29 Nov 2019, 18:22
THE LIST OF AIRLINES WHICH WENT DOWN THE DRAIN SINCE 2017 ... Air Berlin, Monarch, Darwin, Niki, PAWA, Nature Air, Aserca Airlines, Latin America Wings, Santa Bárbara Airlines, Air Arabia Jordan, Nextjet, Saratov Airlines, Skywork, VLM, Wataniya Airways, Azul Air Germany, Small Planet Germany, Primera Air, Cobalt Air, Small Planet Poland, Small Planet Lithuania, Royal Wings, VLM Brussels, Privatair, Germania, FlyBMI, Shaheen Air, Insel Air, Bulgarian Eagle, Wow Air, Jet Airways, Avianca Brasil, Yan Air, Avian Lineas Aereas, Nórdica, Aigle Azur, XL Airways, Adria Airways, Peruvian Airlines, Atlas Global ...


And who is next?
Some others from Asia who shut down since:

Safi Airways - Afghanistan
Afghan Jet
Rayan Air - Malaysia
Al Naser Wings - Iraq
Zagros Jet - Iraq
Uni Top Cargo Airlines - China
Air Philip - South Korea
Orient Thai
Air Kyrgyzstan
Air Costa - India
Air Carnival - India
Trans Asia - Taiwan
Last edited by globetrotter on 10 Dec 2019, 10:41, edited 5 times in total.

HansAir
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by HansAir » 04 Dec 2019, 17:55

globetrotter wrote:
04 Dec 2019, 10:24
Tus Air said to be reorganising and has temporarily suspended operations.
According to their website only scheduled services are temporarily suspended. Charters will continue until the airline has reorganised and rebranded to ELA Airways.

globetrotter
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by globetrotter » 10 Dec 2019, 10:33

Tajik Air is back is service after some months suspension, so is Mongolian carrier Eznis Airways which shut down in 2014, and a small prop operator in Florida is also back after a decade long hiatus.

theeuropean
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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by theeuropean » 10 Dec 2019, 11:15

RAM to go through a reorganisation

https://www.ch-aviation.com/ (its behind a subscription and no ip link to copy paste)

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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by TLspotting » 12 Dec 2019, 13:56

Another one bites the dust...
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Future of airlines: bankrupt, ceased operations, restructurations

Post by TLspotting » 13 Dec 2019, 19:42

2012 bankruptcy - Malév, Hungarian national airline, doesn't exist more as a company : https://24.hu/fn/gazdasag/2019/12/13/ma ... afizetett/
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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