Airline bankruptcies, ceased operations, restructurations

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sn26567
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Re: Airline bankruptcies, ceased operations, restructurations

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Avianca Brasil bankruptcy was decreed by the courts, The carrier has 60 days to present a list of its assets, which will be auctioned to pay part of its debts.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
13 May 2020, 22:21
Air Italy (which I thought completely out of the game) applies for renewal of its exemption authority to provide foreign scheduled and charter air transportation to the full extent of the open skies air transport agreement currently in place between the US and the EU.
Air Italy could restart soon. A member of Sardinia parliament says that there are plans to make fly this brand again. «According to what I have learned from absolutely reliable sources, in the last few months several highly qualified professionals have been working on a business plan aimed at the birth of a new airline», Roberto Li Gioi told. They are looking for investors.

If it succeeds, the airline will fly first from Sardinia and if everything goes well, national and international operations.
Hi. I'm T., spotter and aviation geek. Join me on Facebook & Twitter @TLspotting

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Re: Airline bankruptcies, ceased operations, restructurations

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Air Asia may shut down its Indian subsidiary, the Indian owners are also not keen on retaining the loss making carrier and rejected offer to buy 49% remaining stake held by the Malaysian owners.India has been given the right to exit the group first.

Jet Star Pacific is renamed Pacific Airlines as a Vietnam Airlines subsidiary, ending its links with Qantas LCC Jet Star.

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Re: Airline bankruptcies, ceased operations, restructurations

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Jet Time files for bankruptcy due to the impact from the pandemic. Owner Lars Thuesen has recently registered a new company called Jettime (!), which will take over certain assets, including some employees, five B737s, technical platforms, and take-off and landing permits.

LIAT major shareholders have reached an agreement, which could see the airline flying again “in 60 to 90 days.” The carrier will sell the three planes that are owned by LIAT and charged to the Caribbean Development Bank. Proceeds will be utilized to pay down the loan.
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Re: Airline bankruptcies, ceased operations, restructurations

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Small Planet Airlines Poland was declared bankrupt by a Warsaw court, after filing for bankruptcy in 2019.
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Re: Airline bankruptcies, ceased operations, restructurations

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Aeromexico was authorised by a US judge to return 19 planes from its fleet — five B737-800s, five B737-700s, and nine E170s — and four leased engines as part of a restructuring process.

Comair may return to the skies earlier than 01 November 2020, with two possible investors lining up to inject the US$91.7 million needed to save the airline. The carrier to ramp up to at least 20 aircraft over the next 18 months and not sell ancillary businesses under the plan.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
24 Jul 2020, 17:03
Comair may return to the skies earlier than 01 November 2020, with two possible investors lining up to inject the US$91.7 million needed to save the airline. The carrier to ramp up to at least 20 aircraft over the next 18 months and not sell ancillary businesses under the plan.
Comair business rescue practitioners failed to convince lenders to throw US$13.6 million more into the restructuring process, as the rescue process was said to be unclear. The lack of funding brings the carrier one step closer to liquidation.
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Re: Airline bankruptcies, ceased operations, restructurations

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CityJet creditor Revenue is seeking clarification of “important” issues before deciding its position on an application next week for High Court approval of a survival scheme for the airline. The carrier’s examiner, Kieran Wallace of KPMG (The Netherlands), is recommending the scheme be approved.
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Re: Airline bankruptcies, ceased operations, restructurations

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Thailand's Nok Air files for bankruptcy protection: Nok Air applied for bankruptcy protection on July 30, 2020, with the intention of using the judicial process to restructure its business while continuing operations.
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Re: Airline bankruptcies, ceased operations, restructurations

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Thai Airways International expects the bankruptcy court to allow for a rehabilitation process after a hearing in August 2020 on its restructuring proposals.
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