Bankruptcy

Air France-KLM announced Friday that it will take a majority stake in Scandinavian Airlines, the national airline of Denmark, Norway, and Sweden.

Bankruptcy acquisition sets stage for relaunch of regional flights between Florida, the Bahamas, and Alaska under new ownership.

Two days after shutting down, Silver Airways acknowledged it only has the money to pay its former workers about 45% of their final paychecks.

Florida-based Silver Airways halted all service on Wednesday following a nearly five-month long Ch. 11 bankruptcy process.

Spirit has notified the SEC that it will need more time to prepare its first quarter financial statement because of its recent emergence from bankruptcy.

Silver and Seaborne may lose bankruptcy protection, potentially exposing them to creditor actions outside of the structured bankruptcy process

Last year, the ultra-low-cost carrier reported a net loss of nearly $1.23 billion, an increase from $448 million in 2023.

The U.S. Bankruptcy Court for the Southern District of New York has authorized Spirit Airlines’ plan to exit bankruptcy.

The airline – which began flying in 2011 – operates a fleet of all-turboprop aircraft from Fort Lauderdale, Orlando, San Juan, and Tampa.

Spirit expects shareholders will lose their investments during its Chapter 11 bankruptcy restructuring deal with bondholders.