The Russian government is reportedly considering a transfer of GTLK (State Transport Leasing Company) to VEB.RF, the national development corporation. Currently, GTLK is jointly owned by the country’s Ministry of Transport and Ministry of Finance.
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Aerolineas Argentinas, Argentina’s national carrier, is at risk of closure as the government, led by Javier Milei, has proposed a privatization process to address the airline’s financial struggles. This privatization plan is seen as a critical measure to ensure the airline’s sustainability, but it has encountered resistance from employees and unions concerned about job security and potential changes…
airBaltic (Latvia) has announced a temporary 40% wage reduction for its management board, a voluntary decision aimed at supporting the airline’s financial stability ahead of its planned initial public offering (IPO). The measure will remain in effect until the successful completion of the share listing process.
Hawaiian Airlines has announced that it will separate with 73 employees by the end of 2024, following its merger with Alaska Airlines.
Abelo, the Irish aircraft leasing company, has undergone a change in ownership as an affiliate of Cerberus Capital Management has acquired the business from funds managed by Oaktree Capital Management. The transaction signifies a strategic realignment in Abelo’s financial backing, potentially signaling new directions or growth plans under Cerberus’s stewardship.
Mexicana, one of Mexico’s leading airlines, is currently undergoing a strategic review, according to the President of Mexico. The announcement follows the cancellation of multiple routes, which had sparked speculation about potential operational difficulties. However, the President dismissed these concerns, emphasizing that the airline is focused on future planning and development.
Spirit AeroSystems Holdings, a leading U.S.-based manufacturer in the aerospace sector, has announced a purchase agreement to sell its subsidiary Fiber Materials to Tex-Tech Industries. The deal is valued at $165 million in cash, subject to customary adjustments.
