GOL (Brazil), currently undergoing Chapter 11 bankruptcy proceedings, has announced plans to request authorization from the Bankruptcy Court to enter into a settlement agreement with Brazil’s Attorney General’s Office of the National Treasury and the Special Secretariat of the Federal Revenue. This move represents a critical step in GOL’s ongoing restructuring process.
A Dhaka court has sent a current official of Biman Bangladesh Airlines and four former officials to jail in connection with a $98 million corruption case. The case, which has garnered significant attention, involves alleged financial irregularities within the airline.
Spirit Airlines (US) has received court approval to sell five of the 23 aircraft it has deemed surplus to requirements to GA Telesis (US). The agreement is part of a broader deal that could generate $518.9 million for the airline if all the aircraft are sold.
Emirates (UAE) has suggested the possibility of increasing its current order of 65 Airbus A350 aircraft, signaling a strategic shift in fleet planning as the airline navigates delivery delays for its ordered Boeing 777X and B787 models. This move highlights Emirates’ focus on maintaining capacity growth and operational resilience.
Spirit Airlines (US) has expressed “substantial doubt” about its ability to sustain operations through 2025, attributing the concern to significant financial losses and difficult market conditions. This announcement underscores the challenges faced by the low-cost carrier amid heightened competition and rising costs.
Lufthansa CEO Carsten Spohr has stated that supply chain disruptions in the aviation industry are likely to persist until the end of the decade. Speaking about the ongoing challenges, Spohr highlighted that aircraft delivery delays remain a significant concern for airlines globally, affecting fleet expansion and modernization plans.
Spirit Airlines (US) is expected to have its Cayman Islands subsidiaries file for bankruptcy as part of the parent company’s ongoing Chapter 11 case. The four units, which own specific intellectual property (IP), will join the restructuring process to streamline the airline’s financial and operational strategies.
Spirit Airlines (US) has reported its financial results for 3Q 2024, showing a mixed performance. While total operating revenues stood at $1.1 billion, marking a slight year-over-year decrease, the airline faced a significant net loss of $308 million, which nearly doubled compared to the same quarter in the previous year.
Fitch Ratings (US) has announced that the Chapter 11 bankruptcy filing of Spirit Airlines (US) will not have a material impact on Aircraft Lease ABS (Asset-Backed Securities). The credit rating agency attributes this stability to the limited exposure of ABS pools to aircraft leased by Spirit Airlines.
Air New Zealand has revealed that it does not expect significant improvements in aircraft availability until 2026, citing ongoing challenges with its fleet of Boeing 787-9 and Airbus A320neo aircraft. These availability issues have impacted the carrier’s operational capacity and ability to meet growing passenger demand.
