Airline bankruptcies, ceased operations, restructurations

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Passenger
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Re: Airline bankruptcies, ceased operations, restructurations

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Tarom (Romania) received a LEI / Romanian RON 195,000,000 loan from the government (= € 40,8M) to secure its March payments.

Source:
https://www.profit.ro/povesti-cu-profit ... a-19229586

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Re: Airline bankruptcies, ceased operations, restructurations

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Re: Airline bankruptcies, ceased operations, restructurations

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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 11 Feb 2020, 15:48 Air Italy: The End
Air Italy announced it will cease operations on 25 February. Until then, all of its flights will be operated by other airlines. Today, those include Wamos, Albastar, Neos, and Tayarn Jet.
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Re: Airline bankruptcies, ceased operations, restructurations

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Turkish air carrier AtlasGlobal is bankrupt and stops operations

https://www.aviation24.be/airlines/atla ... perations/
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Re: Airline bankruptcies, ceased operations, restructurations

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

https://www.aviation24.be/airlines/air- ... -carriers/
Airlines flying for Air Italy : Wamos Air, Albastar, Air Horizont, Neos, Lumiwings and TayaranJet.
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Re: Airline bankruptcies, ceased operations, restructurations

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Ryanair shows his interest in Air Italy. (via Repubblica)
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Re: Airline bankruptcies, ceased operations, restructurations

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TLspotting wrote: 12 Feb 2020, 18:18 Ryanair shows his interest in Air Italy. (via Repubblica)
Ryanair denies any interest in Air Italy

https://www.aviation24.be/airlines/ryan ... air-italy/
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Re: Airline bankruptcies, ceased operations, restructurations

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SAA :

South African Airways may sell its two prized nighttime slots at London Heathrow as the state-owned carrier battles to stave off financial collapse.

South Africa’s Treasury’s says the government refused to provide guarantees to South African Airways due to the airline’s inability to finalize financial statements on an ongoing basis.

Tunisair :

Tunisair should be rescued by the government and restructured, says federal labor union, who also opposes fifth freedom rights for Qatar Airways.
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Re: Airline bankruptcies, ceased operations, restructurations

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SA Express enters into the Business Rescue process to ensure the long term sustainability of the airline. All operations to continue as normal.

South African Airways announces that Travel Insurance Consultants have reinstated the travel supplier insolvency cover on the airline.

Vim Airlines administrators are auctioning off two B757-200s, serials 26434 and 26433, for around US$15.7 million.
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globetrotter
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Re: Airline bankruptcies, ceased operations, restructurations

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TLspotting wrote: 12 Feb 2020, 16:42 Turkish air carrier AtlasGlobal is bankrupt and stops operations

https://www.aviation24.be/airlines/atla ... perations/
Wonder if Onur Air will be the next airline in Turkey to close.

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Re: Airline bankruptcies, ceased operations, restructurations

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Wideroe cuts 4,000 flights from its domestic network, as the carrier struggles to reach profitability.

Adria :
Slovenia’s police have launched investigations into suspected abuse of office and fraud at defunct Adria Airways, which declared bankruptcy in September 2019.

VIM Airlines :
VIM Airlines put up for sale three aircraft engines, including RB211 and TRENT 892B for US$13.0 million.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Italy needs solutions that are alternatives to being liquidated to ensure employees are protected, says transport minister Paola De Micheli.

Which alternatives, Mr Minister?
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Re: Airline bankruptcies, ceased operations, restructurations

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Astra Airlines of Greece received an injunction to move forward with a restructuring plan as multiple investors have shown interest in the carrier. Astra has reportedly signed an MOU with a Chinese firm to sell a 51% stake and acquire 26 C919s, pending EU approval, however, the coronavirus is delaying the process.
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Re: Airline bankruptcies, ceased operations, restructurations

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Financial worries at Hong Kong Airlines...

European Commission approves around €36 million Romanian rescue aid to state-owned flag carrier TAROM

https://www.aviation24.be/airlines/taro ... ier-tarom/

Air Italy seems to be still flying tomorrow, for the last time since 1963.
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Re: Airline bankruptcies, ceased operations, restructurations

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CargoLogicAir had its air operating licence revoked, over 100 employees were dismissed, and its fleet remains grounded due to financial problems.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 25 Feb 2020, 23:55 CargoLogicAir had its air operating licence revoked, over 100 employees were dismissed, and its fleet remains grounded due to financial problems.
It is not really clear, financial troubles, violated EASA regulations and/or liquidation. No one knows exactly what's happening at the airline...
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Italy has (it seems) 3 offers to be taken over, but not totally, including Blue Air, BA and easyJet.
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Re: Airline bankruptcies, ceased operations, restructurations

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Estonian airline Regional Jet, which rebranded as Xfly, will expand its fleet with seven E190/E195s by the end of August 2020. Four of the seven planes will serve the routes operated by LOT Polish Airlines and the remaining three will replace CRJ900s.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 28 Feb 2020, 18:53 Estonian airline Regional Jet, which rebranded as Xfly, will expand its fleet with seven E190/E195s by the end of August 2020. Four of the seven planes will serve the routes operated by LOT Polish Airlines and the remaining three will replace CRJ900s.
https://www.aviation24.be/airlines/xfly ... -aircraft/
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