Airline bankruptcies, ceased operations, restructurations
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Re: Airline bankruptcies, ceased operations, restructurations
Nok Air of Thailand obtains bankruptcy court approval to submit a business rehabilitation plan submission to the official receiver on 15 April 2021, a one-month extension.
André
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Re: Airline bankruptcies, ceased operations, restructurations
HNA Group gains court approval to merge 321 firms related to the aviation conglomerate, paving way for the company to potentially emerge from bankruptcy.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Avianca hopes to get out of Chapter 11 before the end of 2021, implementing a new “light” model, which will be similar to an LCC model. The carrier also plans to launch 50 new routes within the next three years.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet will request to enter into bankruptcy very soon, after three months without operating, with the aim of receiving an injection of up to US$1.0 billion and being able to resume its activity from July 2021. The company’s debt is currently around $1.25 billion.TLspotting wrote: ↑29 Dec 2020, 20:15 Many experts claim that Interjet won't fly again or has only small chances to do so.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Air Namibia liquidation is now official after the High Court ruled to convert the provisional liquidation into full liquidation following an application by the Namibia Airports Company.
sn26567 wrote: ↑24 Mar 2021, 16:45Interjet will request to enter into bankruptcy very soon, after three months without operating, with the aim of receiving an injection of up to US$1.0 billion and being able to resume its activity from July 2021. The company’s debt is currently around $1.25 billion.TLspotting wrote: ↑29 Dec 2020, 20:15 Many experts claim that Interjet won't fly again or has only small chances to do so.
Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet has started talks with its suppliers to close a series of agreements regarding their debts before entering bankruptcy in Mexico, and eventually a similar restructuring process in the US, with the intention of restarting operations in July 2021.sn26567 wrote: ↑30 Mar 2021, 16:53
Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
André
ex Sabena #26567
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet called a shareholders’ meeting to approve the start of the insolvency process in view of the declaration of the commercial bankruptcy.sn26567 wrote: ↑06 Apr 2021, 17:15Interjet has started talks with its suppliers to close a series of agreements regarding their debts before entering bankruptcy in Mexico, and eventually a similar restructuring process in the US, with the intention of restarting operations in July 2021.sn26567 wrote: ↑30 Mar 2021, 16:53
Interjet says it has deepened talks with possible investors who will inject funds into the carrier to enable it to restart operations. Interjet will begin a process of rapprochement with its suppliers to initiate a path that “allows it to restructure the company’s commitments in an orderly manner.”
André
ex Sabena #26567
ex Sabena #26567
Re: Airline bankruptcies, ceased operations, restructurations
Air Italy administrators have recently received two EOIs for the takeover of the company, one by an English fund and one by a Russian fund.sn26567 wrote: ↑11 Feb 2020, 15:48 Air Italy: The End
https://www.aviation24.be/airlines/air- ... -carriers/
If Qatar didn't succeed, why would an English fund or a Russin fund do better?
Montenegro Airlines is one step closer to bankruptcy, as the country’s tax regulator sent a request to the commercial court to initiate the procedure.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet, which hopes to resume operations by August 2021, is mulling commercial bankruptcy while establishing a roadmap to pay its creditors and suppliers.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet shareholders unanimously approved entering commercial bankruptcy.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Grupo Aeromexico obtains US Bankruptcy Court approval regarding the airline’s entry into the transactions to increase its fleet with 24 new B737 aircraft, including B737-8 and B737-9 MAX and four B787-9 aircraft.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Air Zimbabwe will come out of administration at the end of June 2021, paving way for the airline’s board to take charge of the company’s affairs. The government is set to assume Air Zimbabwe’s debt, which has been validated at US$379 million.
Surinam Airways' debt has risen above US$100 million, leaving the airline to take drastic actions to avoid bankruptcy, which will include job cuts.
Surinam Airways' debt has risen above US$100 million, leaving the airline to take drastic actions to avoid bankruptcy, which will include job cuts.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Montenegro Airlines had received €43 million in illegal state aid, according to the ruling of a Montenegro government agency.TLspotting wrote: ↑02 Dec 2020, 17:35 Montenegro Airlines might simply have its entire fleet grounded soon because the State has halted the aid.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet plans to conclude commercial bankruptcy in nine months, due to the attractiveness it still has as a company, assured the firm in charge of the airline’s financial restructuring.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as the airline seeks to survive the crisis wrought by the pandemic. Garuda has around US$4.9 billion of debt which increases by more than $69.6 million each month as it continues to delay payments to suppliers.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Interjet of Mexico hopes to reach an agreement with its creditors within the next 12 months, as part of the financial efforts with which it seeks to resume operations. Interjet will present its first agreement to creditors as part of the restructuring process in order to accelerate the acceptance of its commercial bankruptcy.
Interjet has been summoned by Colombian regulators to explain why its business insolvency process and accounting does not reflect its real situation.
Interjet has been summoned by Colombian regulators to explain why its business insolvency process and accounting does not reflect its real situation.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Aeromexico asked the New York Southern District Court for a couple of extensions, each of up to 120 days to 25 October 2021, to finalize its reorganisation plan under Chapter 11.
Garuda Indonesia is currently discussing the master plan of restructuring that will be carried out by the company for all creditors, vendors, lessors, and other interested parties for the settlement or fulfilment of the company’s obligations. Also, the carrier has engaged with consultants on the matter.sn26567 wrote: ↑24 May 2021, 17:23 Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as the airline seeks to survive the crisis wrought by the pandemic. Garuda has around US$4.9 billion of debt which increases by more than $69.6 million each month as it continues to delay payments to suppliers.
LATAM Airlines Group has sought to extend until September 2021 the deadline to present its restructuring plan as part of the bankruptcy protection process initiated in 2020. LATAM has agreed to inform, as part of the Chapter 11 Proceedings, a second draw request under the DIP Credit Agreement was agreed upon for an amount of US$500 million.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Stobart Air has ceased operating :
https://www.irishnews.com/business/busi ... r-2353250/
https://www.irishnews.com/business/busi ... r-2353250/
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting
Re: Airline bankruptcies, ceased operations, restructurations
Aeromexico asked the New York Southern District Court to modify the requested extension period to present its final restructuring plan under Chapter 11. The new date is 08 September 2021.
Garuda Indonesia is considering a court-supervised debt restructuring process and is in talks to slash its fleet size. The airline’s total debt is about US$4.5 billion and it runs a $100 million negative cash flow a month due to high costs and low revenues. The carrier is now considering whether to negotiate its mounting debt in or out of court. Garuda Indonesia has returned 20 unused planes to lessors and is negotiating to return seven others in a bid to reduce its fleet and cut costs. The carrier only flies 41 planes of the 142 in its fleet.
André
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Re: Airline bankruptcies, ceased operations, restructurations
Surinam Airways may be privatised by the state, as the carrier is struggling with large debts and teetering on the brink of collapse.
André
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