Airline bankruptcies, ceased operations, restructurations

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Re: Airline bankruptcies, ceased operations, restructurations

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Air Mauritius administrators are running out of time to save the airline as recurrent expenses pile up, costs of servicing leases for new aircraft accumulate and unions fail to give constructive proposals on job cuts. Cumulative losses for the three fiscal years through March 2021 could reach US$237 million if costs are not cut in the short term. The airline will require a cash injection of $263.9 million to meet its financial commitments.
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Re: Airline bankruptcies, ceased operations, restructurations

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BRA says its reconstruction continues and agreed on a collaboration with Amapola for flights between Bromma and Malmö, Gothenburg, Visby, Angelholm and Halmstad.

Thai Airways International may not need to seek protection under Chapter 11 of the Bankruptcy Code in the US if creditors allow the rehab process to go via Thai courts.

Virgin Australia Holdings administrator has given final bidders Bain Capital (US) and Cyrus Capital Partners (US) until 22 June 2020 to lodge binding offers, an extension of 10 days from the original date.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
02 Jun 2020, 22:36
Air Mauritius administrators are running out of time to save the airline as recurrent expenses pile up, costs of servicing leases for new aircraft accumulate and unions fail to give constructive proposals on job cuts. Cumulative losses for the three fiscal years through March 2021 could reach US$237 million if costs are not cut in the short term. The airline will require a cash injection of $263.9 million to meet its financial commitments.
Air Mauritius administrator is mulling liquidation as an increasingly visible possible option, as losses for the current financial year expected to be US$237 million.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
03 Jun 2020, 22:28
Virgin Australia Holdings administrator has given final bidders Bain Capital (US) and Cyrus Capital Partners (US) until 22 June 2020 to lodge binding offers, an extension of 10 days from the original date.

Virgin Australia co-founder Richard Branson wants to invest up to US$69 million in the collapsed airline to maintain a minority ownership stake alongside one of two private equity bidders when it emerges from administration.
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Re: Airline bankruptcies, ceased operations, restructurations

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LATAM Airlines Group obtains approval from a court in Santiago to continue with its foreign bankruptcy procedure, which seeks to protect against any lawsuit in Chile for any breach of its obligations.

LATAM reports nearly 1,000 workers, mainly belonging to subsidiaries in Peru, Colombia and Chile, were dismissed. The layoffs are in addition to the 4,000 dismissals that had occurred in the previous weeks.

Thai Airways International rehabilitation may take up to seven years, and can include debt to equity conversions, selling assets or an equity injection. Its planners may take five months to a year to draw up the plan.
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Re: Airline bankruptcies, ceased operations, restructurations

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El Al Israel Airlines extended unpaid leave for 5,800 workers until 31 July 2020 and said that without state aid it will not be able to resume operations once the country’s borders reopen.
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LATAM signs agreements with lessors to freeze payments of 96 leased aircraft, as part of the reorganisation process.
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Re: Airline bankruptcies, ceased operations, restructurations

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Avianca Holdings announced that the US Bankruptcy Court for the Southern District of New York recently granted final approvals for most of the Company’s “first day” motions to help ensure that Avianca continues normal business operations throughout the reorganisation process.
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Re: Airline bankruptcies, ceased operations, restructurations

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Lufthansa to cut 22.000 jobs as a result of the slump in air travel.

Emirates fries 700 cabin crew and 600 pilots.

On the other hand Cathay Pacific just got bailed out and some airlines are resuming some of the connections.
Last edited by NavDelta on 14 Jun 2020, 09:18, edited 1 time in total.

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Re: Airline bankruptcies, ceased operations, restructurations

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NavDelta wrote:
14 Jun 2020, 09:15
Emirates fries 700 cabin crew and 600 pilots.
I hope not. It's already bad enough to be fired ;)

Anyway, welcome to Aviation24.be, NavDelta. Your typo is forgiven!

About Lufthansa, we had an article on our homepage: it's 22,000 jobs for the Group, not LH alone.

https://www.aviation24.be/airlines/luft ... us-crisis/
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Re: Airline bankruptcies, ceased operations, restructurations

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NavDelta wrote:
14 Jun 2020, 09:15
Lufthansa to cut 22.000 jobs as a result of the slump in air travel.

Emirates firies 700 cabin crew and 600 pilots.

On the other hand Cathay Pacific just got bailed out and some airlines are resuming some of the connections.
Sorry for the typo :)

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Re: Airline bankruptcies, ceased operations, restructurations

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Cyrus Capital (US) says a reborn Virgin Australia would be repositioned as a downsized mid-market ‘hybrid’ airline to compete against both Qantas and Jetstar. The firm is still a contender in the bidding process.

Tame employees call for a restructuring, involving a partial liquidation of the workforce, in an effort to save the airline.
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Re: Airline bankruptcies, ceased operations, restructurations

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LGW is unlikely to continue operations as a buyer or investor has not been found, leaving 354 employees without a job. Bankruptcy proceedings to be initiated by 01 July 2020.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
17 Jun 2020, 22:30
LGW is unlikely to continue operations as a buyer or investor has not been found, leaving 354 employees without a job. Bankruptcy proceedings to be initiated by 01 July 2020.
Question... Is German Airways still active then ?

News of the day :

LATAM Airlines Argentina ceases operations (but international flights will continue)
https://www.aviation24.be/airlines/lata ... -continue/

LEVEL Europe (Austria) to enter insolvency
https://www.aviation24.be/airlines/inte ... nsolvency/
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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TLspotting wrote:
18 Jun 2020, 12:41
sn26567 wrote:
17 Jun 2020, 22:30
LGW is unlikely to continue operations as a buyer or investor has not been found, leaving 354 employees without a job. Bankruptcy proceedings to be initiated by 01 July 2020.
Question... Is German Airways still active then ?
LGW stands for Luftfahrtgesellschaft Walter. It operated 15 Q400's for Eurowings.

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Re: Airline bankruptcies, ceased operations, restructurations

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lucas wrote:
18 Jun 2020, 13:48
TLspotting wrote:
18 Jun 2020, 12:41
sn26567 wrote:
17 Jun 2020, 22:30
LGW is unlikely to continue operations as a buyer or investor has not been found, leaving 354 employees without a job. Bankruptcy proceedings to be initiated by 01 July 2020.
Question... Is German Airways still active then ?
LGW stands for Luftfahrtgesellschaft Walter. It operated 15 Q400's for Eurowings.
And LGW was merged into German Airways together with WDL Aviation. But apparently only LGW filed for bankruptcy. I guess the merger was not yet completed.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
18 Jun 2020, 14:31
lucas wrote:
18 Jun 2020, 13:48
TLspotting wrote:
18 Jun 2020, 12:41


Question... Is German Airways still active then ?
LGW stands for Luftfahrtgesellschaft Walter. It operated 15 Q400's for Eurowings.
And LGW was merged into German Airways together with WDL Aviation. But apparently only LGW filed for bankruptcy. I guess the merger was not yet completed.
Okay, didn't know that. Now yout post makes much more sense :)

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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote:
15 Jun 2020, 21:23
Cyrus Capital (US) says a reborn Virgin Australia would be repositioned as a downsized mid-market ‘hybrid’ airline to compete against both Qantas and Jetstar. The firm is still a contender in the bidding process.
Virgin Australia bidder Cyrus Capital Partners has secured the support of both unions for flight attendants and aircraft engineers, giving the fund a leg up on the competition.
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Re: Airline bankruptcies, ceased operations, restructurations

Post by rwandan-flyer »

sn26567 wrote:
04 Jun 2020, 22:01
sn26567 wrote:
02 Jun 2020, 22:36
Air Mauritius administrators are running out of time to save the airline as recurrent expenses pile up, costs of servicing leases for new aircraft accumulate and unions fail to give constructive proposals on job cuts. Cumulative losses for the three fiscal years through March 2021 could reach US$237 million if costs are not cut in the short term. The airline will require a cash injection of $263.9 million to meet its financial commitments.
Air Mauritius administrator is mulling liquidation as an increasingly visible possible option, as losses for the current financial year expected to be US$237 million.
The airline plans to relaunch its flights on September 1, 2020.

But the 2 administrators of the company would have made a request for new license to the civil aviation of Mauritius. Which would suggest that a "new" Air Muritius could see soon start flights ? This company would take over 50% of the staff of the current Air Mauritius

https://www.zinfos-moris.com/Air-Maurit ... 15478.html (FR)

For a while, we were talking about a possible arrival of Ethiopian Airlines at Air Mauritius: https://www.bloomberg.com/news/articles ... n-carriers

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Re: Airline bankruptcies, ceased operations, restructurations

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Cityjet intends restarting flights for SAS in July 2020, says pilots’ union, who protest at the Irish airline’s headquarters in Dublin as they are not part of the relaunch.
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