Airline bankruptcies, ceased operations, restructurations

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sn26567
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Re: Airline bankruptcies, ceased operations, restructurations

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LATAM Airlines Group has entered into non-disclosure agreements with various stakeholders, and has developed and made available to them certain material non-public information; and has requested proposals from its most significant creditors and majority shareholders. The Disclosed Proposal contemplates the raising of new funds of over US$5 billion through the issuance of new equity and debt.
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Re: Airline bankruptcies, ceased operations, restructurations

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59 years old airline. One of oldest African airline still flying :cry:

Air Madagascar set to enter bankruptcy protection

Madagascar's Government outlines plans to restructure Air Madagascar.

https://centreforaviation.com/news/mada ... ar-1096643

Here is Google Translation of Council of Ministers from Malagasy to English https://centreforaviation-com.translate ... tr_pto=nui

The airline could be relaunch under new name: Madagascar Airlines

Sorry only in French, but maybe someone could made an article for Aviation24.be in English

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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 20 Aug 2020, 22:12
sn26567 wrote: 11 Aug 2020, 18:05 Irish regional airline CityJet to exit examinership, after the High Court has formally approved a survival scheme
CityJet is gradually building up services once again with SAS and is now only operating eight of its CRJ900s.
CityJet plans to expand its fleet with at least five E-Jets soon, ten more CRJ900s in 2022, and potentially the E2 or A220 in the longer term. The carrier is also in talks with five European airlines regarding cooperation in summer 2022. Also with Brussels Airlines?
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Re: Airline bankruptcies, ceased operations, restructurations

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Fiji Airways could be viewed as “insolvent” in terms of liabilities vs assets, says National Federation Party leader Professor Biman Prasad, after there were calls to increase the government guarantee to the airline domestic and off-shore borrowings from $221 million to $273 million.

Fiji Airways cannot rely on continued government-guaranteed loans if the carrier is not operational, says Parliament.

HNA Group creditors have voted to approve the company’s restructuring plan, according to a court comment. HNA will receive a strategic investment of US5.88 billion) after its restructuring.

LATAM Airlines Group unsecured creditors, frustrated by a bankruptcy process that has dragged on for nearly 18 months, requested a mediator to help devise a plan for the Chilean airline to emerge from bankruptcy.
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Re: Airline bankruptcies, ceased operations, restructurations

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Avianca Holdings asked a judge for permission to exit bankruptcy under a plan that the airline says will eliminate about US$3 billion in debt and preserve over 10,000 jobs.

LATAM Airlines Group chief executive wants to steer the company out of bankruptcy in 1H 2022 with a shrinking carbon footprint and lower costs that can help it grow in a travel market.
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Re: Airline bankruptcies, ceased operations, restructurations

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Blue Panorama on the ground, officially from tomorrow, 28 October 2021, financial difficulties + suspension of AOC.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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Re: Airline bankruptcies, ceased operations, restructurations

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Thai Airways International will sell 42 planes and cut nearly a third of its workforce as part of a plan to slim down the fleet and cut costs. Also, 16 jets on lease will be returned.
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Re: Airline bankruptcies, ceased operations, restructurations

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Garuda Indonesia needs at least US$1 billion of additional funds to cut debt and stay afloat, as the government says it could give up its majority control of the troubled flag carrier. Garuda is currently in talks with creditors to restructure $6.3 billion worth of debt and expects to reach an agreement in 2Q 2022.
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Re: Airline bankruptcies, ceased operations, restructurations

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Avianca Holdings had its confirmed its reorganisation plan confirmed by the US courts. The carrier hopes to successfully complete the New York court-supervised process and exit Chapter 11 before the end of 2021.

Azul of Brazil is interested in buying the whole of LATAM Airlines Group and is ready to make an offer if creditors fail to agree on a restructuring plan.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 03 Nov 2021, 16:15 Avianca Holdings had its confirmed its reorganisation plan confirmed by the US courts. The carrier hopes to successfully complete the New York court-supervised process and exit Chapter 11 before the end of 2021.
Avianca Holdings will move its domicile from Colombia to the UK and its stock will no longer be traded on the Colombian stock exchange. It will then be known as will be known as Avianca Group International, and its current shareholders will not receive any payout or be included as shareholders in the Group.
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Re: Airline bankruptcies, ceased operations, restructurations

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AirAsia X creditors have agreed to a restructuring that will pay just 0.5% of the debt owed and end its existing contracts. The carrier also reached a deal with its largest creditor, Airbus to reduce an order for 78 A330neos and 30 A321XLR. AAX now plans to take 15 A330neos and 20 A321XLRs.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Europa includes bankruptcy as an option, in the event that the purchase by Iberia is not finalised, according to documentation.
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Re: Airline bankruptcies, ceased operations, restructurations

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Air Madagascar and its subsidiary, Tsaradia, have officially entered into receivership, following a court hearing on the matter. Creditors have a period of two months from the 2nd publication in a Journal to declare their claims.
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Re: Airline bankruptcies, ceased operations, restructurations

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sn26567 wrote: 16 Apr 2021, 21:20
sn26567 wrote: 11 Feb 2020, 15:48 Air Italy: The End

https://www.aviation24.be/airlines/air- ... -carriers/
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.
Air Italy to be liquidated soon in the absence of interest from a potential buyer, erasing 1,300 jobs which the unions are hoping to protect by seeking another year of temporary employment regulation.
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