Airline bankruptcies, ceased operations, restructurations

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Re: Airline bankruptcies, ceased operations, restructurations

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Many experts claim that Interjet won't fly again or has only small chances to do so.
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Re: Airline bankruptcies, ceased operations, restructurations

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Level France has reportedly been officially closed, as staff received their dismissal letters. Flights from Paris are still offered, but all through its sister base in Barcelona.

Orient Thai Airlines has officially closed following a court-ordered bankruptcy, following a lawsuit by Aeropart International against the defunct airline.
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Re: Airline bankruptcies, ceased operations, restructurations

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Interjet employees are striking since today to get 4 months of salary plus Christmas bonus.

Many rumours say that the closure of Interjet is imminent.
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Re: Airline bankruptcies, ceased operations, restructurations

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LATAM has requested to postpone the deadline again to present its restructuring plan under Chapter 11.

Sun-Air Germany has filed for bankruptcy after German authorities demanded repayment of almost US$10.6 million for a short-time working subsidy.

Thai Airways International insisted its rehabilitation plan is progressing without interruption under Bankruptcy Court supervision.
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Re: Airline bankruptcies, ceased operations, restructurations

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AirAsia X lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganisation.

Iran Air is reportedly on the verge of bankruptcy due to millions in debt and non-settlement of bank facilities. Further state support may keep the airline afloat.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 14 Jan 2021, 17:54 Thai Airways International insisted its rehabilitation plan is progressing without interruption under Bankruptcy Court supervision.
Thai Airways International was granted a further order for time extension for the submission of its business rehabilitation plan to the official receiver. The new due date is 02 March 2021.
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Re: Airline bankruptcies, ceased operations, restructurations

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HNA Group (Hainan Airlines and many others) apply for Chapter 11 equivalent in China and is going to restructure.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Seychelles may potentially declare bankruptcy or go the route of a controlled administration, warns CEO Remco Althuis, due to high debt load.
TLspotting wrote: 29 Jan 2021, 16:17 HNA Group (Hainan Airlines and many others) apply for Chapter 11 equivalent in China and is going to restructure.
Hainan Airlines Holding is operating normally and could draw in new investors despite a bankruptcy filing, embezzlement charges and large asset impairments for the carrier last week.
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Re: Airline bankruptcies, ceased operations, restructurations

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TLspotting wrote: 25 Dec 2020, 14:21
TLspotting wrote: 02 Dec 2020, 17:35 Montenegro Airlines might simply have its entire fleet grounded soon because the State has halted the aid.
Launch of a new airline mulled as Montenegro Airlines shuts down :
https://www.aviation24.be/airlines/mont ... w-airline/
Montenegro Airlines may resume operations on 08 February 2021 as the government looks to restore the country’s connectivity until a new flag carrier is launched.
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Re: Airline bankruptcies, ceased operations, restructurations

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Eastar Jet of South Korea officially enters into receivership after the Seoul Bankruptcy Court accepted its application. The airline must present a reorganisation plan to the Court until 20 May 2021.
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Re: Airline bankruptcies, ceased operations, restructurations

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Star Peru faces bankruptcy rumours due to its financial health following months of fewer flights than normal.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Namibia suspends operations with immediate effect :
https://www.aviation24.be/airlines/air- ... te-effect/
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Re: Airline bankruptcies, ceased operations, restructurations

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TLspotting wrote: 11 Feb 2021, 19:41 Air Namibia suspends operations with immediate effect :
https://www.aviation24.be/airlines/air- ... te-effect/
Air Namibia, which cancelled all flights earlier on 11 February 2021, has been placed into voluntary liquidation, Finance Minister Iipumbu Shiimi said, calling the state-owned airline “unsustainable”.
TLspotting wrote: 29 Jan 2021, 16:17 HNA Group (Hainan Airlines and many others) apply for Chapter 11 equivalent in China and is going to restructure.
HNA Group and many of its affiliates were placed into administration in response to a creditors’ petition for a bankruptcy restructuring of the corporate empire.
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Re: Airline bankruptcies, ceased operations, restructurations

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Thai Airways International said it had cut around 240 executive positions at the airline as part of its bankruptcy restructuring process.
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Re: Airline bankruptcies, ceased operations, restructurations

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AirAsia Japan has commenced its bankruptcy proceedings as ordered by the court on 24 February 2021. As a result, AAJ has recognized a loss of US$74.1 million in 2H 2020 due to financial assistance and also incurred $5.1 million in 4Q 2020 and 1Q2021 for expenses related to the aircraft de-registration.
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Re: Airline bankruptcies, ceased operations, restructurations

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Thai Airways International issues RFP to sell 10 B747-400s as part of its rehabilitation plan. The carrier also has five CFM56-3C1 spare engines for sale.
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Re: Airline bankruptcies, ceased operations, restructurations

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Thai Airways International is seeking a capital infusion of as much as US$1.65 billion under a debt restructuring plan set to be submitted to a bankruptcy court this week. The fund may be raised through equity, loans or convertible securities.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Namibia was placed under provisional liquidation by the Windhoek High Court, following an application by the Namibia Airports Company.
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Re: Airline bankruptcies, ceased operations, restructurations

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Sky Regional Airlines of Canada to shut down its operations on 31 March 2021 after losing its Air Canada Express contract.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Iceland Connect to merge into Icelandair on 16 March 2021. Not a lot changes for the passengers : https://www.aviation24.be/airlines/icel ... celandair/
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