Business Aviation
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A Philippines AirAsia A320 aircraft (Photo: aeroprints.com [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)])

Cash-Strapped AirAsia Still Needs to Support Affiliates

AirAsia Group has announced a planned financial restructuring of its Thai businesses, which would include a capital infusion and a reorganization of its 45%-owned Thai AirAsia Co Ltd's holdings (TAA). The move is hardly surprising, given AirAsia had previously said that its affiliates will seek financial assistance from the nations in which they operate. In a nutshell, the Thai reorganization aims to generate 6.3 billion baht ($190 million) in new capital, out of a total of 14 billion baht declared.…

Royal Air Maroc Outlines Restructuring Plan

Royal Air Maroc will be initiating a new organizational transformation to support the development of the company and put it back on a recovery and growth trajectory in the global arena. With the current aviation landscape, both full of uncertainties as well as full of opportunities, Royal Air Maroc is…

Government Prepares to Takeover Garuda Indonesia Routes if it Declares…

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…

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…

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…

LATAM Brasil Outsources Ground Agents At Most Airports As Restructuring…

As LATAM Airlines Group reshuffles its operations and cleans up its financial situation as a part of its Chapter 11 bankruptcy process, the group's branches continue their streamlining and cost-cutting measures. The latest agreement — and one of the most relevant with respect to labour relations so far — was…

New Alitalia Set To Halve Fleet, Workforce

Last Friday a new chapter started in the never-ending story of troubled Italian flag carrier Alitalia when the newly-formed state-owned company Italia Trasporto Aereo (ITA) presented its new business plan to the Transport Commission of the Italian Government. The new company is supposed to take over some of the assets…

Air Canada Cancels Aircraft Orders

Earlier this week, Air Canada announced that it will be canceling orders for 22 narrowbody aircraft as the airline works to size itself properly to operate in a smaller market, as consumer behavior indicates that demand will take around half a decade to recover to pre-pandemic levels. The Canadian flag…

SAA Suspends All Operations As Government Continues to Look for…

On Tuesday, Business Rescue Practitioners (BRPs) announced that South African flag carrier South African Airways has suspended all operations and the airline put under "care and maintenance" until the ongoing discussions between the BRPs and the government lead to a deal with suitable funding for the airline. All existing cargo…

Virgin Atlantic Wins Support of Creditors for Restructuring Plan

Virgin Atlantic has today won the support of its creditors over a 1.2 billion-pound ($1.58 billion) rescue package deal. The capital, only 400 million pounds of which is "new money," is supposed to keep the airline afloat for at least the next 18 months. Shareholders and suppliers to whom the…