Bankruptcy

Aeromar, a Mexican regional airline, has announced the cessation of its operations in a statement released on social media. The company cited “a series of financial problems” and “difficulty in closing viable agreements for its long-term operation” as the reasons behind the decision to discontinue its services. Earlier on February 15, Mexico City International Airport […]

After only 19 months of operations, Norwegian low-cost airline Flyr has been forced to suspend all its operations and plans to file for bankruptcy. “Flyr was unsuccessful with the new financial plan and the board concluded on Tuesday evening that there are no alternatives for further operation. The company will file for bankruptcy on Wednesday […]

From April 1, LATAM Ecuador will start a new route between Quito, Ecuador and Bogotá, Colombia with a frequency of 5 weekly flights. This new route that will link the 2 South American capitals will operate on Mondays, Tuesdays, Wednesdays, Fridays and Sundays. LATAM Ecuador’s CEO, Mónica Fistrovic, guaranteed that this new route will stimulate […]

In 2020, Aeroméxico voluntarily entered the Chapter 11 process for financial restructuring to be able to face the billionaire debt that reached up to $5 billion. The Mexican carrier has debts with banking institutions, airport groups, Mexican government entities and suppliers including Boeing. Aeroméxico saw the number of passengers drop by more than 90% as […]

Just a few hours before one of the worst years on record for commercial aviation came to a close, Philippine Airlines announced it was exiting U.S. Chapter 11 bankruptcy protection after successfully restructuring its business. Less than four months earlier, the airline had voluntarily entered Chapter 11 on Sept. 3 and was able to emerge […]

LATAM Airlines Group and its subsidiaries in Brazil, Chile, Colombia, Ecuador, Peru and the U.S. announced the presentation of a reorganization plan, which outlines the group’s strategy to exit Chapter 11 bankruptcy in accordance with U.S. and Chilean legislation. In a press release, the Chilean carrier stated that the plan is complemented by a Restructuring […]

Indonesian national carrier Garuda Indonesia may be forced into bankruptcy as it faces growing debts after months of financial difficulties due to the impact of Covid-19. The Indonesian government in response has prepared Pelita Air Service, a subsidiary of Indonesia’s Pertamina, a state-owned oil giant, to take over domestic flights within Indonesia if Garuda Indonesia […]

The government is reportedly preparing Pelita Air Service to replace the state-owned airline Garuda Indonesia. Garuda Indonesia is facing the threat of failing to restructure after incurring debt whose value is said to have exceeded Rp 70 trillion. PT Pelita Air Service (PAS), an airline owned by PT Pertamina (Persero) is planned to serve scheduled […]

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 […]

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 these airlines. Thai Airways has […]