Finnair (Finland) is bracing for disruptions following the rejection of a settlement proposal by the airline’s pilots’ union. The proposal, which was submitted by the National Conciliator and accepted by the employer, was aimed at resolving ongoing labor disagreements. However, the union’s refusal has escalated the situation, leading to operational challenges for the airline.
Boliviana de Aviación (BoA), Bolivia’s national airline, is grappling with significant operational challenges due to financial constraints. The carrier has been unable to pay the leases for six of its aircraft, resulting in their grounding. Additionally, two more planes remain out of service due to ongoing maintenance, further impacting the airline’s operational capacity.
Kapila Chandrasena, the former CEO of SriLankan Airlines, has been sanctioned by the United States for his involvement in a bribery scheme that led to the airline purchasing Airbus aircraft at inflated prices. This development marks a significant escalation in the ongoing scrutiny of corruption in international aviation procurement.
GOL Linhas Aéreas Inteligentes (Brazil) has announced its intention to file a Chapter 11 plan of reorganization, marking a significant step in its financial restructuring efforts. The plan is aimed at deleveraging its balance sheet, extinguishing up to $1.7 billion of prepetition funded debt and $850 million in other obligations, enabling the airline to strengthen its financial foundation.
South African Airways (SAA) pilots have officially ended their strike after successfully negotiating a salary increment. The resolution of the dispute ensures the restoration of normal operations for the airline, which had been impacted by the industrial action.
Air Nostrum (Spain) has announced its inability to meet upcoming debt repayment deadlines, prompting discussions with the Sociedad Estatal de Participaciones Industriales (SEPI) and the Instituto de Crédito Oficial (ICO). The airline faces significant financial obligations, including substantial repayments spread over the coming years.
FAA Administrator Mike Whitaker has announced that Boeing has yet to resume production of the B737 MAXfollowing a machinists strike that temporarily halted operations. However, the aerospace giant is planning to restart manufacturing by late December 2024, marking a critical step in addressing the backlog of orders and stabilizing its production schedule.
GOL Linhas Aéreas, Brazil’s largest low-cost airline, has reached a significant agreement to reduce its liabilities to the Brazilian government by $750 million, cutting the total amount owed to $250 million. This development marks a crucial step in the airline’s efforts to secure a stable financial future and emerge successfully from bankruptcy proceedings.
Jet Airways (India) has entered a new phase in its liquidation process with the appointment of Satish Kumar Gupta as its liquidator. The decision was made by the National Company Law Tribunal (NCLT) following a Supreme Court order that permits the sale of the grounded airline.
Go First (India) has reached a significant milestone in its bankruptcy proceedings, with the committee of creditorsapproving Dinkar Venkatasubramanian as the liquidator. This decision is expected to guide the airline’s resolution process, ensuring compliance with legal and financial frameworks.
