Somalia Airlines Operators Association, representing the interests of Somalia’s airline industry, has announced the suspension of all domestic and international flights starting January 22, 2025. This decision comes in response to a sharp increase in fees imposed by the federal government, which the association deems unsustainable for continued operations.
Korean Air CEO Woo Kee-hong is set to be promoted to vice chairman upon the completion of Korean Air’s corporate merger with Asiana Airlines. This promotion highlights the strategic importance of the merger, which aims to consolidate the two major South Korean carriers into a globally competitive airline. The merger process has been closely monitored by industry analysts and…
Koala Airlines (Australia) is currently facing a significant financial challenge, as creditor Wealth Creation (Australia)has filed a wind-up application against the airline. The case is set to be reviewed in a court hearing scheduled for 22 January 2025. The filing of a wind-up application typically indicates that a creditor believes the company is unable to meet its financial obligations. For…
Lufthansa (Germany) successfully issued an unsecured hybrid bond with a total volume of €512 million(approximately US$512 million). The bond, which bears an annual interest rate of 5.25%, has a 30-year term, with the first issuer call date set for 6 years after issuance.
AK Holdings Co., the parent company of Jeju Air, has announced the cancellation of its planned corporate bond issuance. The company has also requested the credit rating agency to withdraw the associated rating for the bond. This decision marks a shift in AK Holdings’ financing strategy as it navigates ongoing challenges in the aviation sector.
Aerolíneas Argentinas has reported a loss of $326 million during the first quarter of 2024, despite achieving a total income of $1.64 billion. The financial results highlight the challenges the airline continues to face in a volatile global aviation market.
Nordica, Estonia’s national airline, has announced its decision to close operations and file for bankruptcy. The move follows the withdrawal of potential investor Lars Thuesen from a critical funding deal. This marks a significant setback for the carrier, which had been seeking financial support to sustain its operations.
