restructuring

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 plan needed a nod from […]

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 announced this week at LATAM […]

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 from old Alitalia, which has […]

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 carrier is cutting orders 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 and repatriation services will be […]

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 airline previously owed money have […]

Air France and its main union, SNPL, have agreed to a restructuring that will allow Transavia France to fly domestic routes, Air France-KLM Group announced in a press release. The agreement will allow Transavia France to operate on domestic Air France flights and changes mid-range activity guarantees in line with changes to the carrier’s domestic […]

South African Airways has had yet another business rescue plan approved by creditors. The new plan requires at least 10 billion rands funding ($596 million) of government funding to sustain the airline. This was approved during a creditors meeting held on Tuesday, July 14 by 86% of voters, as reported by FlightGlobal. At the meeting, […]

South African Airways has sent its Airbus A330-200 and A350-900 to Teruel Airport in Spain for long term storage amid locked horns with staff and management over the furloughing process and calls to liquidate the airline. Teruel Airport is located in Spain outside the town of Teruel and hosts aircraft from all over the world […]

In a bid to retain its financial flexibility and optimize on the lack of connectivity throughout Africa, the government of Kenya is on the verge of nationalizing its flag carrier to retain market share while aiding the troubled airline in its restructuring process. Lawmakers passed the nationalization bill which entails a National Aviation and Management […]