A consortium of investors, spearheaded by The Carlyle Group, is contemplating the sale of Trans Maldivian Airways (TMA), the world’s largest seaplane operator. This decision comes in response to a significant rebound in tourism to the Maldives. The group, which includes King Street Capital Management and Davidson Kempner Capital Management, is collaborating with a financial adviser to gauge interest from…
Tulpar Air, a Russian airline, has been ordered by the Arbitration Court of the Republic of Tatarstan to pay US$4.2 million to its former director, Azat Khakim. This legal ruling concludes a significant dispute between the airline and its former executive.
Korean Air has cleared the final regulatory hurdle in its acquisition of Asiana Airlines (South Korea) by securing approval from the US Department of Justice (DOJ). With this milestone, Korean Air is set to finalize the transaction by 11 December 2024.
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.
Etihad Airways (UAE) is reportedly considering a partial acquisition of Air Europa (Spain), potentially taking up to a 20% stake in the Spanish airline. This move places Etihad among several global carriers exploring opportunities to invest in Air Europa as the airline seeks strategic partnerships to enhance its market presence.
Avia Solutions Group (Ireland) has reported impressive financial results for Q3 2024, with revenues rising 25% year-over-year to $2.1 billion. The company’s net profit also saw a significant increase, climbing more than 15% to $87.3 million.
United Aircraft Corporation (UAC) (Russia) has announced significant leadership changes at two of its key subsidiaries, Yakovlev and Tupolev. Andrey Boginsky, CEO of Yakovlev, and Konstantin Timofeev, Managing Director of Tupolev, have stepped down from their respective roles.
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.
Pegasus Airlines, a prominent low-cost carrier from Turkiye, has reported a 19% increase in net profit for the third quarter of 2024, totaling $322 million. However, despite the strong quarterly performance, the airline’s net profit for the first nine months of 2024 saw a slight decline, falling 3% to $332 million. These figures reflect Pegasus Airlines’ adaptability and focus on profitability, even amidst…
China Airlines, based in Taiwan, has reported a net profit of $118 million for the third quarter of 2024, supported by a 9.1% increase in revenue to $1.6 billion. This growth highlights China Airlines’ resilience in an evolving aviation market and reflects strong demand across its network. The airline’s solid performance in Q3 demonstrates its effective cost management and strategic focus on…
