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A LATAM Brasil A350-900 lands in São Paulo/Guarulhos. (Photo: AirlineGeeks | João Machado)

LATAM Projects Pre-Pandemic Levels of Profitability in 2024, Receives Offers for $5 Billion in Financing

LATAM Airlines Group and some of its debtor subsidiaries in Brazil, Chile, Colombia, Ecuador, the U.S. and Peru released their five-year business plan along with various advances related to their exit financing process. LATAM projects, by 2024, a recovery of profitability to the levels of 2019 and an increase in operating income of 78% by 2026 compared to the pre-pandemic period. According to a press release, the Chilean carrier announced that it has received several offers from its main creditors…

Malaysia’s AirAsia X Approved for Restructuring Process

Malaysian low-cost carrier AirAsia X has been earned shareholder approval to go ahead with the debt restructuring process, which will allow the airline to pursue a plan that is viewed as essential for survival through the ongoing pandemic crisis. This comes as seemingly better news in light of the recent…

Garuda Indonesia Suggests Imminent Restructuring

The Covid-19 pandemic has continuously caused severe damage to almost every industry worldwide, and the aviation sector was not spared as airlines from around the world continue to struggle. Massive declines in operating flights and passenger demand have resulted in huge losses for airlines even though many have received financial…

Kenya Airways Needs $500 Million State Aid Package to Remain…

Kenya Airways PLC is seeking $500 million from the Kenyan government to navigate the COVID-19 crisis after its first-half revenue plunged by 50%, per Group's CEO Allan Kilavuka as reported by Bloomberg. The airline is on the verge of nationalization, a process that is believed will put it on a…