Azul, one of Brazil’s largest airlines, is reportedly in advanced negotiations with creditors to secure approximately $600 million in emergency financing. This strategic move is aimed at sustaining operations through a potential bankruptcy process, which could be initiated as early as next week. The airline, like many others in Latin America, has faced significant financial turbulence over recent…
Silver Airways, a U.S.-based regional carrier, has received a $5.78 million stalking horse bid from KIA II, a financial firm that had previously provided debtor-in-possession (DIP) financing to the airline. This development positions Silver Airways to move forward in its efforts to exit bankruptcy proceedings and reestablish operational normalcy.
StandardAero (US) has initiated legal action in bankruptcy court, seeking an order that would compel Silver Airways (US) to return a leased aircraft engine currently in the airline’s possession. The action comes as part of the ongoing bankruptcy proceedings involving Silver Airways, which has been struggling to stabilize operations and address creditor claims.
Silver Airways and Seaborne Virgin Islands, both operating under bankruptcy proceedings, have filed a court request to extend agreements with aircraft lessors beyond the current 60-day period. The airlines seek additional time to finalize the sale of their assets, ensuring a structured transition amid financial restructuring efforts.
Viva Air Peru, the low-cost carrier that ceased operations in February 2023, has been placed under ordinary bankruptcy proceedings, according to the competition regulator. This development formalizes the airline’s financial collapse, opening the way for creditors to seek repayment.
The bankruptcy administrator of Aviogenex, a former Serbian charter airline, has announced plans to sell one Boeing 737-200, serial 23912, for $431,000 in Q2 2025. This sale is part of the company’s ongoing asset liquidation following its financial collapse.
A special audit into the bankruptcy of Nordica (Estonia) has uncovered governance failures, citing shortcomings in both the management and supervisory boards that contributed to the airline’s financial collapse. The findings highlight internal mismanagement as a key factor in the carrier’s downfall.
Nordic Aviation Group, a key player in Estonia’s aviation sector, has been declared bankrupt by the Harju County Court. The ruling is subject to immediate enforcement, marking a significant development for the airline and its stakeholders.
Tulpar Air (Russia) has announced its intention to file for bankruptcy in the Arbitration Court of Tatarstan within the next 15 days, following a legal ruling. The court’s decision requires the airline to pay over US$5.0 million to its former co-owner, Azat Khakim.
Spirit Airlines (US) has initiated a US$350 million equity rights offering as part of its ongoing Chapter 11 bankruptcy restructuring efforts. This strategic move aims to bolster the airline’s financial stability and ensure operational continuity amid its restructuring process.
