Bankruptcy

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 business plan has raised numerous […]

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 to be delivered to a […]

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 that the Mexican LCC may […]

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 called “ITA – Italia Trasporto […]

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 would like to again thank […]

The month of October will see Aeroméxico operate about 30% more international flights compared to September. With this increase in its operations, the carrier will be operating to 28 destinations in the United States, Canada, Central and South America, the Caribbean, Europe and Asia. The Mexican airline made public an announcement, in which it details the […]

LATAM Airlines reported on Monday its preliminary operating results for the month of August 2020, which demonstrate steady progress in the gradual recovery of the airline’s network in both the domestic and international markets. The group operated at 13.9% of its capacity – measured in ASK – compared to August 2019, an improvement of almost […]

Aeromexico announced that for this month it will maintain an increase in its operations from 25 to 39 domestic destinations and will achieve almost 75% recovery in domestic flights compared to September 2019. In a statement, the airline reported that it will have almost 150 departures per day serving more than 60 destinations in September. […]

On Wednesday Virgin Australia announced its restructuring plan after filing for voluntary administration in April, the airline revealed in a press release. The carrier is resetting itself to meet the drop in demand both in Australia and around the world. Through its review, the airline has anchored its recovery plan around six key points: overhauling […]

Virgin Atlantic filed for Chapter 15 bankruptcy in New York on Tuesday, becoming the latest airline — and the second from Virgin Group — to file for bankruptcy protection, Business Insider reports. Virgin Australia filed for voluntary administration in April. Virgin Atlantic originally suspended passenger operations in April. It flies exclusively long-haul international routes, so […]