SpiceJet, one of India’s prominent budget airlines, has announced a significant financial turnaround in its fourth quarter of fiscal year 2025, recording a profit after tax of $37.8 million. This figure marks a 173% increase compared to the previous period, underscoring a robust recovery in profitability despite declining revenues.
GOL, the Brazilian low-cost carrier, has received approval from a U.S. bankruptcy court for its comprehensive restructuring plan under Chapter 11 proceedings. The approval marks a key milestone in the airline’s financial recovery and long-term sustainability efforts.
Fly Modern Ark (FMA), a South African aviation services provider, has expressed its full cooperation with the forensic audit of LAM Mozambique Airlines’ financial accounts, a process initiated amid growing scrutiny of the state-owned carrier’s governance. At the same time, FMA has been forced to initiate legal proceedings to recover outstanding payments for services rendered to the Mozambican airline.
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.
