Airline bankruptcies, ceased operations, restructurations

Join this forum to discuss the latest news that happened in the world of commercial aviation.

Moderator: Latest news team

Post Reply
User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

Nok Air of Thailand obtains bankruptcy court approval to submit a business rehabilitation plan submission to the official receiver on 15 April 2021, a one-month extension.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

HNA Group gains court approval to merge 321 firms related to the aviation conglomerate, paving way for the company to potentially emerge from bankruptcy.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

Avianca hopes to get out of Chapter 11 before the end of 2021, implementing a new “light” model, which will be similar to an LCC model. The carrier also plans to launch 50 new routes within the next three years.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

TLspotting wrote: 29 Dec 2020, 20:15 Many experts claim that Interjet won't fly again or has only small chances to do so.
Interjet will request to enter into bankruptcy very soon, after three months without operating, with the aim of receiving an injection of up to US$1.0 billion and being able to resume its activity from July 2021. The company’s debt is currently around $1.25 billion.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 02 Mar 2021, 19:02 Air Namibia was placed under provisional liquidation by the Windhoek High Court, following an application by the Namibia Airports Company.
Air Namibia liquidation is now official after the High Court ruled to convert the provisional liquidation into full liquidation following an application by the Namibia Airports Company.
sn26567 wrote: 24 Mar 2021, 16:45
TLspotting wrote: 29 Dec 2020, 20:15 Many experts claim that Interjet won't fly again or has only small chances to do so.
Interjet will request to enter into bankruptcy very soon, after three months without operating, with the aim of receiving an injection of up to US$1.0 billion and being able to resume its activity from July 2021. The company’s debt is currently around $1.25 billion.

Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 30 Mar 2021, 16:53
Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
Interjet has started talks with its suppliers to close a series of agreements regarding their debts before entering bankruptcy in Mexico, and eventually a similar restructuring process in the US, with the intention of restarting operations in July 2021.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 06 Apr 2021, 17:15
sn26567 wrote: 30 Mar 2021, 16:53
Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
Interjet has started talks with its suppliers to close a series of agreements regarding their debts before entering bankruptcy in Mexico, and eventually a similar restructuring process in the US, with the intention of restarting operations in July 2021.
Interjet called a shareholders’ meeting to approve the start of the insolvency process in view of the declaration of the commercial bankruptcy.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 11 Feb 2020, 15:48 Air Italy: The End

https://www.aviation24.be/airlines/air- ... -carriers/
Air Italy administrators have recently received two EOIs for the takeover of the company, one by an English fund and one by a Russian fund.

If Qatar didn't succeed, why would an English fund or a Russin fund do better?

Montenegro Airlines is one step closer to bankruptcy, as the country’s tax regulator sent a request to the commercial court to initiate the procedure.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 12 Apr 2021, 17:11 Interjet called a shareholders’ meeting to approve the start of the insolvency process in view of the declaration of the commercial bankruptcy.
Interjet, which hopes to resume operations by August 2021, is mulling commercial bankruptcy while establishing a roadmap to pay its creditors and suppliers.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 22 Apr 2021, 16:31
sn26567 wrote: 12 Apr 2021, 17:11 Interjet called a shareholders’ meeting to approve the start of the insolvency process in view of the declaration of the commercial bankruptcy.
Interjet, which hopes to resume operations by August 2021, is mulling commercial bankruptcy while establishing a roadmap to pay its creditors and suppliers.
Interjet shareholders unanimously approved entering commercial bankruptcy.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

sn26567 wrote: 24 Jul 2020, 17:03 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.
Grupo Aeromexico obtains US Bankruptcy Court approval regarding the airline’s entry into the transactions to increase its fleet with 24 new B737 aircraft, including B737-8 and B737-9 MAX and four B787-9 aircraft.
André
ex Sabena #26567

User avatar
sn26567
Posts: 38270
Joined: 13 Feb 2003, 00:00
Location: Rosières/Rozieren, Belgium
Contact:

Re: Airline bankruptcies, ceased operations, restructurations

Post by sn26567 »

Air Zimbabwe will come out of administration at the end of June 2021, paving way for the airline’s board to take charge of the company’s affairs. The government is set to assume Air Zimbabwe’s debt, which has been validated at US$379 million.

Surinam Airways' debt has risen above US$100 million, leaving the airline to take drastic actions to avoid bankruptcy, which will include job cuts.
André
ex Sabena #26567

Post Reply