Spirit Airlines Downgraded to ‘D’ by S&P Following Chapter 11 Filing

ByAdmin 20/11/202422/11/2024

Spirit Airlines, a prominent U.S.-based low-cost carrier, has been downgraded by S&P Global from ‘CCC’ to ‘D’following its Chapter 11 bankruptcy filing. The move reflects the airline’s financial struggles and the significant challenges it faces during its restructuring process. Additionally, the ratings on Spirit Airlines’ Enhanced Equipment Trust Certificates (EETCs) have been lowered by one notch.

Please SUBSCRIBE to view the full content.
First month of membership is free!

Airlines | Cargo | Merger

ANA’s Acquisition of Nippon Cargo Airlines Delayed to April 1, 2025

ByAdmin 01/02/202504/02/2025

ANA Holdings, the parent company of All Nippon Airways (ANA), has announced a postponement of its planned acquisition of Nippon Cargo Airlines (NCA), with the new effective date set for April 1, 2025. This delay is attributed to the ongoing review process by competition authorities in Japan and China.

Airlines | Bankruptcy | Financial | Legal

Silver Airways and Seaborne Virgin Islands Extend Section 1110 Period Amid Chapter 11 Proceedings

ByAdmin 08/03/202511/03/2025

Silver Airways and its subsidiary Seaborne Virgin Islands have been granted approval to extend the 60-day period under Section 1110 of the U.S. Bankruptcy Code as part of their ongoing Chapter 11 restructuring efforts. This extension allows the carriers to maintain control of their aircraft and essential assets, ensuring operational continuitywhile they restructure financially.

Airlines | Financial | Low Cost Carrier | Quarterly Performance

Air Arabia’s 3Q 2024 Profit Rises 8% to $153.5 Million Amid 10% Revenue Growth

ByAdmin 12/11/202414/11/2024

Air Arabia, a leading low-cost airline based in the UAE, has posted strong financial results for the third quarter of 2024, with net profit rising by 8% to $153.5 million. This growth was supported by a 10% increase in turnover, which reached $484 million. The airline’s financial performance reflects its resilience and effective management in a competitive aviation market. Additionally, Air Arabia reported…

Airbus | Airlines | Corporation | Maintenance

easyJet Extends Maintenance Contract with Lufthansa Technik Milan for A320 Fleet

ByAdmin 12/11/202414/11/2024

easyJet, a leading UK-based low-cost airline, has recently signed a three-year extension to its existing maintenance contract with Lufthansa Technik Milan. This renewed agreement covers recurring light base maintenance checks for easyJet’s A320 family fleet. The collaboration ensures that easyJet’s fleet receives regular, high-quality maintenance services, supporting its operational reliability and safety across European routes.

Airlines | Boeing | Delivery | Fleet

Southwest Airlines Expands Fleet with New Boeing 737-8

ByAdmin 30/10/202401/11/2024

Southwest Airlines recently took delivery of a new Boeing 737-8, identified by serial number 68382 and powered by LEAP-1B28 engines. This addition is part of Southwest’s ongoing commitment to modernizing its fleet with fuel-efficient aircraft, enhancing both operational efficiency and environmental sustainability. The LEAP-1B28 engines, produced by CFM International, are known for their optimized fuel…

Financial

Fitch Assigns ‘BB-’ Rating to Houston Revenue Bonds Backed by United Airlines

ByAdmin 12/11/202413/11/2024

Fitch Ratings has recently assigned a ‘BB-’ rating to the special facility revenue bonds proposed by the City of Houston, with a Recovery Rating of ‘RR4’. These bonds, which are guaranteed by United Airlines Holdings (US), represent an important financial measure designed to support airport and related infrastructure within the Houston area. The assigned BB- rating indicates a non-investment grade, yet…

Airlines | Cargo | Merger

Similar Posts