Airline bankruptcies, ceased operations, restructurations
Re: Airline bankruptcies, ceased operations, restructurations
Post by sn26567 » 15 Sep 2020, 20:51
Virgin Australia may place an order for the B787-9 with which it intends to relaunch long-range travel to Los Angeles and Tokyo.
El Al Israel Airlines is now 43% controlled by Kanfei Nesharim Aviation following a public share offering that was a government condition for the carrier to receive a 75% state-backed US$250 million loan.
El Al Israel Airlines raised US$148 million in a government-mandated share offering that will enable it to receive a state bailout package.
Condor seeks creditor approval in late October 2020 for its new insolvency plan, which would place the airline in a trust as an interim solution until a buyer can be found.
sn26567 wrote: ↑17 Sep 2020, 21:18 El Al Israel Airlines raised US$148 million in a government-mandated share offering that will enable it to receive a state bailout package.
El Al Israel Airlines will resume some international destinations in October 2020, from Tel Aviv to Athens with B737-900, and to London Heathrow, New York JFK and Paris with B787-9. Subsidiary Sun d'Or will also offer charter flights to Greece and Croatia through selected tour operators.
TUS Airways of Cyprus plans to relaunch in in early 2021 as a regional carrier following the expected infusion of fresh capital later in 2020. The carrier will be renamed Ela Air Cyprus and focus on business and leisure routes.
El Al Israel Airlines is opposing a takeover by a 27-year-old student, Eli Rozenberg, who won control of the carrier when he bought US$107 million in shares in the embattled airline. El Al board is still backing the Borovitz Group and not Eli Rozenberg, even though the Group did not invest a penny in last week's public offering.
Not a bankruptcy: AirAsia Japan is said to have told relevant authorities that it plans to end its operations, without attribution.
Brazilian regulator ANAC extinguished the concession for the operation of regular public air transport service for passenger and cargo of Oceanair (Brazil).
SkyUp Airlines (Ukraine) is facing bankruptcy, says co-founder of the airline Oleksandr Alba, after the airline lost $30 million due to the pandemic. SkyUp is looking for state support.
Post by sn26567 » 02 Oct 2020, 23:36
Avianca Holdings will seek US bankruptcy court approval of its proposed DIP financing, in which it expects a favorable outcome. Avianca was denied the lifting of its injunction in Colombia after a court review of Avianca's and the government's motions in support of such financing.
ExpressJet has ceased operations on 30 September 2020, resulting in 297 Georgia job cuts.
Merpati Nusantara Airlines will be liquidated along with 13 other companies, as the Indonesia government seems to have given up on maintaining the airline.
Post by rwandan-flyer » 07 Oct 2020, 17:40
EXCLUSIVE-Malaysia to stop funding state airline if lessor talks fail - letter
SINGAPORE, Oct 7 (Reuters) - The parent of Malaysia Airlines has warned leasing companies that state fund Khazanah will stop funding the group and force it into a winding down process if restructuring talks with lessors are unsuccessful, according to a letter seen by Reuters.
https://fr.reuters.com/article/idUSL8N2GY3YS
The problems of AB are not only due to the covid. The company has been privatized for 20 years. And there were many who were consulted
Ethiopian, Comair, Airlink, Bluewings, Aer Arann
It's quite astonishing, because Botswana is a rather well ranked country in Africa. A high HDI, per capita income, well above the African average, low corruption, democratic elections, significant tourism potential, ... but a poorly managed airline since several years.
AB, BMC queue for P200m bail-outs
Air Botswana (AB) and the Botswana Meat Commission (BMC) are set to receive P100 million each in emergency funding to keep them afloat, Mmegi has learnt.
https://www.mmegi.bw/index.php?aid=8706 ... ptember/18
Air Namibia to resist liquidation
THE financially troubled Air Namibia is opposing a High Court application in which a Belgian lawyer wants the national airline to be declared bankrupt and liquidated
https://www.namibian.com.na/95403/read/ ... iquidation
Air Asia X has 118 Airbus in order
AirAsia X has run out fo money. Indonesia unit, will be liquidated
https://www.bangkokpost.com/travel/2003 ... t-of-money
Air Namibia liquidation case has been postponed to 01 December 2020, as a Belgian law firm is seeking to have the airline to be declared bankrupt and to be liquidated.
Comair has secured financing from banks, paving the way for the resumption of flights in December 2020. Comair has also reached an agreement with labour unions, Comair obtains a rescue deal approval from South Africa's Competition Tribunal, on condition that the carrier freezes job cuts for three years and investors allocate shares to a Special Purpose Vehicle.
AirAsia Japan has filed a petition for bankruptcy proceedings with the Tokyo District Court. The total debt is about $207.4 million.
Virgin Group founder Richard Branson has confirmed he has acquired a 5% stake in the new Virgin Australia for US$50 million, a few days after the carrier exited administration.
Post by globetrotter » 21 Nov 2020, 20:17
Also packed up;
Post by Passenger » 22 Nov 2020, 17:30
sn26567 wrote: ↑02 Nov 2020, 16:28 Air Namibia liquidation case has been postponed to 01 December 2020, as a Belgian law firm is seeking to have the airline to be declared bankrupt and to be liquidated.
From a Namibian newspaper: "...An application to wind up Air Namibia brought by [lawyer] Sisa Namandje on behalf of the defunct Belgian aviation firm Challenge Air will be heard on 1 December for the merits after lawyers agreed the matter is urgent. Challenge Air is claiming...
https://neweralive.na/posts/air-namibia ... -postponed
Ernest Airlines has been forced into voluntary liquidation, as the latest attempt to save the airline failed to come to fruition when an agreement with a financial investor failed to materialise.
Montenegro Airlines might simply have its entire fleet grounded soon because the State has halted the aid.
Tunisair, might simply cease its operations in 2021 due to the current financially "catastrophic situation", says Fayçal Derbel.
Fly Armenia Airways has the suspension of its AOC extended again by the CAA, who aims to ensure compliance with the required operating standards.
TLspotting wrote: ↑02 Dec 2020, 17:35 Montenegro Airlines might simply have its entire fleet grounded soon because the State has halted the aid.
Launch of a new airline mulled as Montenegro Airlines shuts down :
https://www.aviation24.be/airlines/mont ... w-airline/
TLspotting wrote: ↑25 Dec 2020, 14:21
Another one bites the dust : Montenegro Airlines.
Avianca Holdings is advancing its recovery plan under Chapter 11 of its US Bankruptcy, in which it has already approved financing and is ready to receive creditor claims in January and February 2021, while working on its business plan. The new expected owners — from Tranche B — to include Kingsland Holdings (Bahamas), United Airlines (US), and Elliott (US).