SriLankan Airlines has engaged Lazard Freres (France) as its financial adviser and Norton Rose Fulbright (UK) as its legal adviser to navigate a complex restructuring of its 2024 bonds, valued at approximately $209 million. The move comes amid mounting financial strain on the national carrier, which has struggled with ongoing losses and rising debt obligations.
SKY Airline, a prominent low-cost carrier in Chile, is currently engaged in negotiations with bondholder Abra Group (UK) concerning its $100 million bond, which matures in Q4 2026. The bond includes a conversion option, allowing Abra to turn the debt into a 40% ownership stake in SKY. These talks could have major implications for the airline’s future ownership structure and financial independence.
Garuda Indonesia, the national carrier of Indonesia, has taken decisive steps toward financial recovery and long-term growth by approving the next phase of its restructuring plan, which includes a board reshuffle aimed at expediting strategic execution. Shareholders have endorsed this critical step to improve governance and enhance the airline’s competitiveness as it works to stabilize its balance sheet and…
Afriqiyah Airways, the state-owned Libyan carrier, is facing mounting pressure as unions issued a stark warning about the company’s viability, citing mismanagement and gross financial violations as key threats to its continued operations. The unions have appealed to government authorities for immediate intervention, fearing the airline may soon collapse without corrective action.
GMR Aero Technic, one of India’s prominent MRO providers, has secured a three-year base maintenance agreementwith Akasa Air, a fast-growing Indian low-cost carrier. The agreement covers maintenance services for Akasa’s expanding B737 MAX fleet, reinforcing the airline’s commitment to operational reliability and GMR Aero Technic’s positioning as a preferred maintenance partner in the region.
Uganda Airlines is set to receive additional government funding in the 2025/26 fiscal year to support its ongoing growth and development plans. This funding initiative comes on the heels of the airline’s improved financial performance, having reported a notable increase in revenue to $89.4 million during the 2023/24 fiscal year. The injection of capital is aimed at enabling the national carrier…
Libyan Airlines, the state-owned flag carrier of Libya, has issued a public statement refuting recent bankruptcy rumors, affirming that the airline remains operational. While the carrier acknowledges facing significant financial and technical challenges, it has confirmed that services continue and that government support is being actively pursued to stabilize operations.
Flair Airlines, a Canadian ultra-low-cost carrier, is facing a $30.9 million countersuit in Ontario from four Irish lessors— Columbia Lights Aviation, Corvus Lights Aviation, Mam Aircraft Leasing, and Airborne Capital. The legal action stems from alleged financial damages tied to lease terminations and the repossession of four Boeing 737 MAXaircraft.
ETF Airways, a Croatian charter and ACMI airline, has undergone a significant ownership transition as its management team has acquired the shares previously held by the airline’s initial investors. The buyout was led by CEO Stjepan Bedic, who now holds a majority stake in the company, alongside board member Marko Bankovic.
China Eastern Airlines has announced a broad revision of its existing aircraft and engine lease agreements, alongside the renewal of several key service contracts, including those related to financial services, logistics, and in-flight catering. The revised and renewed agreements come with proposed annual caps extending through 2028, signaling long-term operational planning and cost control.
