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An Alitalia 777-200 at New York-JFK (Photo: AirlineGeeks

Alitalia’s Reincarnation, Italia Transporto Aereo, To Begin Operations in October

After many initial hiccups, Italia Transporto Aereo (ITA), the company that will supersede Alitalia, has had its 2021-2025 business plan approved. According to an article by Corriere della Sera, the company expects to begin operations from Oct. 15 after seven months of discussions between the Minister of the Economy and the European Commission. The airline will see fresh liquidity injected into the company worth €1.3bn ($1.5bn) over a three-year period.. The initial portion of the cash will be used to…

Thai Airways Gets Approval for Restructuring of $12.9 Billion Debt

The Covid-19 pandemic has forced several international airlines to file for bankruptcy and enter administration in order to not only stay afloat but also as a way to pay off continuously-piling debts as the severe decrease in passenger numbers and highly-restrictive border closures have resulted in decreasing revenues earned for…

Airbus Seeking Financial Compensation from Czech Airlines

In 2019, Czech Airlines had placed an order with Toulouse-based aircraft manufacturing giant Airbus for four Airbus A220-300 aircraft and even chose for additional range by upgrading a previous order for three A320neo to the A321XLR. The plan was for the airline to receive and operate the new generation of…

Thai Airways Approved for Restructuring Plan

Thai Airways International managed to get its creditors' approval on May 19 for a proposed restructuring plan that would help the airline refinance its debt in an effort to stay afloat and remain financially viable long-term, Nikkei reported. In order for the seal of approval to be given, the restructuring…

Future of Alitalia Reaches ‘Crucial’ Stage with European Regulators

Talks between the Italian government and the European Commission (EC) on the future of Alitalia are at a ‘crucial’ stage, according to Bloomberg. The Italian carrier went bankrupt in 2017, and the consortium created to oversee its future strategy, Italia Trasporto Aereo SpA (ITA), has been requested to provide clarity…

European Commission Requests Clarifications On Alitalia Rescue Plan

Ailing Italian flag carrier Alitalia has hit another bump in the process that was set to see the newly-formed state-owned company Italia Trasporto Aereo (ITA) take over Alitalia's main assets and flight operations and then receive a 3 billion euro ($3.6 billion) fund injection from the country's government. The ITA…

Norwegian Returns Planes to Lessors

Norwegian Air Shuttle has begun moving aircraft to Ireland’s Shannon Airport as it plans to return the planes to lessors in accordance with its restructuring. Most of the planes Norwegian will lose are Boeing 787 Dreamliners, which the carrier has previously used for long-haul flights. Two Dreamliners are already prepared…

Interjet Cancels All Flights Through 2020

Mexican low-cost carrier (LCC) Interjet has notified its employees that it will not be operating any flights for the remainder of 2020. The airline's operations are shut down from Dec. 18 through the end of Dec. 31, and sources close to the airline's finances have mentioned to local news sources…

Alitalia To Sell Assets To New State-Owned Company

The process to rescue the fledgling Italian flag carrier Alitalia as a state-owned carrier realized a decisive step forward on Oct. 29 when the newly-formed company founded to take over all the activities from the “old Alitalia” was formally registered, Italian newspaper Corriere della Sera reports. The new company is…

Avianca Holdings Receives US Court Approval to Access $2 Billion…

Avianca Holdings announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York to access its Debtor-In-Possession (DIP) financing totaling just over $2 billion. “The approval of the DIP financing package is a significant milestone and an important step forward for Avianca. We…