Thai Airways International has officially completed the restructuring of Thai Smile Airways, its wholly owned regional subsidiary. As a result, the group will move forward with the dissolution of Thai Smile, integrating operations as part of a broader strategy to streamline its business and improve cost efficiency.
Nepal Airlines, the state-owned flag carrier of Nepal, is set to undergo a comprehensive restructuring, according to a recent announcement by the country’s President, Ramchandra Paudel. The statement was made during a public address focused on broader efforts to reform and enhance the nation’s civil aviation sector.
Norwegian, the low-cost carrier based in Norway, has confirmed that it will repay half of the $115 million convertible loan previously granted by the Norwegian government. The remaining balance of the loan will be converted into equity, effectively leaving the State with a 6.37% ownership stake in the airline.
The government of Equatorial Guinea has formally entered into a collaboration agreement with Lufthansa Consulting, the advisory arm of the Lufthansa Group, to assist in the evaluation and restructuring of Ceiba Intercontinental, the country’s national airline. The initiative is aimed at overhauling Ceiba’s operational performance and financial health.
GOL, one of Brazil’s leading airlines, has proposed a substantial $3.4 billion capital increase through share issuance as part of its strategy to exit Chapter 11 bankruptcy protection. The plan marks the most significant financial restructuring move by the company since it filed for bankruptcy earlier this year in the United States.
ITA Airways, Italy’s flag carrier, reported revenues of $3.5 billion for the full year 2024, representing a 26% increasecompared to the previous year, driven by expanded route offerings and improved passenger volumes. Despite this revenue growth, the airline recorded a net loss of $256.6 million, highlighting continued operational challenges and restructuring costs.
Kuwait Airways has appointed Abdul Wahab Al-Shatti as its new Chief Executive Officer (CEO), replacing Ahmed Al-Kuraibani. The leadership transition comes in response to ongoing concerns related to safety oversight and deadline management, which reportedly triggered internal and external pressures for a change in direction at the airline’s executive level.
GOL Linhas Aéreas, the Brazilian low-cost carrier, has secured a critical agreement with key creditors that paves the way for its emergence from Chapter 11 bankruptcy protection, likely by June 2025. The agreement includes an additional $125 million in financing, bringing the total raised through the restructuring process to at least $1.37 billion.
Aerolíneas Argentinas, the national airline of Argentina, is now officially on the path toward privatization, following a public statement from Manuel Adorni, spokesperson for the Argentine presidency. Adorni described the process as “unavoidable”, framing it as part of a broader government initiative to reform and streamline state-owned enterprises.
Azul, one of Brazil’s largest airlines, has obtained a fresh round of funding totaling approximately US$106 million from its existing bondholders. This infusion supports the airline’s ongoing financial restructuring and reinforces its short-term liquidity amid a challenging macroeconomic environment for Latin American carriers.
