A special audit into the bankruptcy of Nordica (Estonia) has uncovered governance failures, citing shortcomings in both the management and supervisory boards that contributed to the airline’s financial collapse. The findings highlight internal mismanagement as a key factor in the carrier’s downfall.
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AE Industrial Partners, a U.S.-based private equity firm specializing in aerospace, defense, and industrial services, has acquired Air Transport Components (ATC), also based in the U.S., to serve as the cornerstone of a new aviation services platform. The acquisition marks a significant step in AE Industrial’s strategy to build an end-to-end component and accessory repair ecosystem tailored…
Cathay Group, the parent company of Cathay Pacific, has expressed strong support for the Hong Kong SAR Government’s efforts to further establish Hong Kong as a premier international aviation hub.
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.
Breeze Airways (US) CEO David Neeleman has forecasted significant changes in the airline industry, predicting further consolidation in 2025 and beyond. Neeleman noted the likelihood of bankruptcy filings and even potential mergersoccurring within the next year as airlines face mounting financial and operational pressures.
LATAM Airlines Group, based in Chile, has announced its financial results for fiscal year 2024, reporting a 10.6% increase in total revenues, reaching $13.0 billion. The company also achieved a 67.9% rise in net income, totaling $977 million, and ended the year with liquidity of $3.5 billion.
The bankruptcy administrator of Aviogenex, a former Serbian charter airline, has announced plans to sell one Boeing 737-200, serial 23912, for $431,000 in Q2 2025. This sale is part of the company’s ongoing asset liquidation following its financial collapse.
