The European Travel Agents’ and Tour Operators’ Association (ECTAA) has called for urgent, mandatory airline insolvency protection in Europe following the recent bankruptcy of Air Belgium (KF, Brussels Charleroi), which left EUR8 million euros (USD9 million) in unpaid passenger refunds, including more than EUR5 million (USD5.6 million) sold through travel agents and tour operators. Air [...]
The estate of Alitalia (AZA, Rome Fiumicino), under special administration, has issued public tender notices for the sale of aircraft engines and a warehouse with components, materials, and spare parts. In separate notices, the administrators have invited offers for the purchase of: three General Electric engines: Two CF34-8E5 engines (s/n 193164 and 902407) and one [...]
Ghana is seeking technical support from the United Arab Emirates to establish a new national airline, following a two-day state visit by Foreign Minister Samuel Okudzeto Ablakwa. In a statement following the visit, the Ghanaian foreign ministry said the visit explored "potential collaboration in areas such as renewable energy, artificial intelligence, education, healthcare, aviation, defence, [...]
GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas) has finalised the USD1.9 billion financing package necessary to exit Chapter 11 restructuring, with new investors providing more funds than the carrier previously anticipated. According to the airline's stock market disclosure dated May 16, the package will comprise USD570 million from new investors. GOL previously planned to [...]
The US Bankruptcy Court has approved the immediate entry of USD5.5 million debtor-in-possession (DIP) funding provided to Silver Airways (3M, Fort Lauderdale International) by KIA II LLC, an affiliate of Wexford Capital, and scheduled an auction to sell the regional carrier for May 28, 2025. Judge Peter D Russin confirmed on May 15 that the [...]
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Serene Air (ER, Islamabad International) has signed a memorandum of understanding concerning an equity increase with an unnamed investor. The agreement was signed on May 5, 2025, and publicised on the airline's social media platforms. Serene Air flies to nine airports across Pakistan, the United Arab Emirates, and Saudi Arabia with a fleet of seven [...]
Garuda Indonesia (GA, Jakarta Soekarno-Hatta) is in talks with Indonesian sovereign wealth fund Danantara about a capital injection, according to Bloomberg. Despite concluding a debt restructuring process in late 2022, state-owned Garuda is struggling with grounded aircraft and a balance sheet revealing it has about USD1.4 billion more in debt than assets. The news outlet [...]