A special audit into the bankruptcy of Nordica (Estonia) has uncovered governance failures, citing shortcomings in both the management and supervisory boards that contributed to the airline’s financial collapse. The findings highlight internal mismanagement as a key factor in the carrier’s downfall.
Nordic Aviation Group, a key player in Estonia’s aviation sector, has been declared bankrupt by the Harju County Court. The ruling is subject to immediate enforcement, marking a significant development for the airline and its stakeholders.
The proposed merger between GOL and Azul, two of Brazil’s largest airlines, has received government support, with the country’s ports and airports minister stating that the move would strengthen the aviation sector and prevent either airline from facing financial difficulties.
AirAsia X (Malaysia) has announced a mutual agreement with Capital A (Malaysia) to extend the deadline for completing its proposed acquisition of Capital A’s aviation business, which includes AirAsia Aviation Group and AirAsia. The revised timeline now extends from 25 January to 24 March 2025.
Air Loyaute, a regional carrier based in New Caledonia, has received renewal approval for its public air transport operating license from the government. The renewed license is valid from 01 February to 31 August 2025, ensuring the airline can continue providing essential air services.
AerFin, a UK-based aviation solutions provider, has announced the appointment of Tamsin Hayward as its new General Counsel. This strategic addition to AerFin’s leadership team reflects the company’s commitment to enhancing its legal and compliance framework to support its global operations.
Willis Aviation Services, a UK-based aviation service provider, has signed a long-term General Terms Agreement (GTA) with TUI Airways (UK) to deliver base maintenance services for TUI’s narrowbody fleet. The partnership will commence with maintenance checks on two Boeing 737 Next Generation (NG) aircraft.
Star Air, a regional airline in India, has announced its plans to venture into the aircraft Maintenance, Repair, and Overhaul (MRO) sector. The airline aims to achieve this through a joint venture, focusing on servicing regional and business jet fleets.
LXA Leasing, a leading Irish leasing company, has entered into a five-year General Terms Agreement (GTA) with Amelia, a French regional airline. The agreement covers Auxiliary Power Units (APUs) for Amelia’s A320 fleet, strengthening the partnership between the two entities and supporting Amelia’s operational reliability.
World Star Aviation, a UK-based aviation asset management company, has announced the successful completion of a sale/leaseback transaction for a GEnx-1B engine. This transaction underscores the company’s expertise in structuring tailored leasing solutions for the aviation industry.
