Tulpar Air, a Russian aviation company, has initiated legal proceedings against its founder and former chairman Azat Khakim, filing a lawsuit with the Arbitration Court of Tatarstan to recover $3 million in damages. The claim centers on alleged financial misconduct or mismanagement that the company says caused measurable harm to its operations and reputation.
KLM, the flag carrier of the Netherlands, grounded seven Boeing 787 aircraft on May 3, 2025, after a serious maintenance oversight involving a refueling system component. The grounding occurred following the discovery that engineers had applied the wrong maintenance procedures, prompting immediate safety concerns and regulatory involvement.
GOL Linhas Aéreas, the Brazilian low-cost carrier, has secured a critical agreement with key creditors that paves the way for its emergence from Chapter 11 bankruptcy protection, likely by June 2025. The agreement includes an additional $125 million in financing, bringing the total raised through the restructuring process to at least $1.37 billion.
JetBlue has retracted its 2025 financial forecast, becoming the latest U.S. airline to abandon forward guidance due to mounting economic uncertainty. The decision is attributed primarily to disruptions arising from the ongoing U.S. trade war, which continues to impact demand forecasts, cost structures, and broader market stability.
Air Moldova, the national carrier of Moldova, has suffered a legal setback after the Centru Court of Appeal rejected its challenge to overturn the suspension of its Air Operator Certificate (AOC). The ruling also upheld a separate lawsuit against the Civil Aviation Authority (CAA), where Air Moldova sought to annul the regulatory provision that led to the grounding of…
Voepass Linhas Aéreas, a regional carrier in Brazil, has officially filed for bankruptcy protection, citing business disruptions stemming from its relationship with LATAM Airlines as a principal factor in its ongoing financial crisis. The filing comes as Voepass reports a total debt burden of approximately US$36.7 million.
Adria Airways, the defunct Slovenian national carrier, is again in the spotlight as its former CEOs, Arno Schuster and Holger Kowarsch, are set to stand trial following the breakdown of mediation attempts related to the airline’s 2019 collapse. The case involves a damages claim of $89 million, brought forward by state-appointed administrators and creditors.
SpiceJet has encountered a regulatory setback as India’s capital market regulator declined a request by the Elara India Opportunities Fund (Mauritius) to convert warrants worth over US$46.8 million into equity shares. The Securities and Exchange Board of India (SEBI) cited non-compliance with beneficial ownership disclosure requirements as the basis for its decision.
Boeing has begun flying B737 MAX aircraft previously allocated to Chinese airlines back to the United States, as trade relations between China and the U.S. continue to deteriorate. The jets, which were originally destined for Chinese operators, had remained parked in Zhoushan, where Boeing maintains a completion and delivery center.
HNA Aviation Group, one of China’s prominent aviation conglomerates, has put its B737-800SF freighter conversion program on hold, following escalating trade tensions between China and the United States. The aircraft conversions were being carried out in partnership with AEI – Aeronautical Engineers Inc., a U.S.-based specialist in passenger-to-freighter (P2F) programs.
