Chen Feng, the former chairman of HNA Group, has been sentenced to 12 years in prison and fined $30.8 million for corruption offenses uncovered during the company’s extensive bankruptcy and restructuring process. The sentence comes following a sweeping investigation into mismanagement and financial misconduct at one of China’s most ambitious conglomerates.
Mikhail Minaev, the former fleet planning director at Aeroflot, is facing criminal charges over an alleged US$48.7 million fraud scheme related to aircraft leasing contracts. The case involves leasing transactions for 28 Airbus A320 and A321 aircraft signed between 2016 and 2018, when Minaev held a senior position in the airline’s fleet acquisition division.
Clover Aviation Capital, a Hong Kong-based aircraft lessor, has announced the re-appointment of Jason Bo Yao as an Independent Non-Executive Director to its board of directors, effective 1 July 2025. The decision reflects the company’s commitment to board continuity and governance strength amid evolving market conditions.
Eric Koury, the former Chief Executive Officer of Air Antilles, has been sentenced to 18 months in prison (suspended) and ordered to pay a fine of $112,500 in connection with embezzlement charges. The sentencing marks the culmination of a legal case that had been under investigation for several years.
Finnair, the national carrier of Finland, has announced the appointment of Pia Aaltonen-Forsell as its new Chief Financial Officer (CFO) and member of the Executive Board, effective August 1, 2025. Aaltonen-Forsell brings with her an extensive background in finance, leadership, and corporate governance, which is expected to contribute to Finnair’s post-pandemic recovery and growth strategy.
Eric Koury, the former CEO of Guadeloupe-based airline Air Antilles, is facing a two-year prison sentence after being accused of embezzling aid funds.
Minority shareholders of T’way Air (South Korea) have begun legal and financial action, alleging violations of their shareholder rights amid the airline’s merger and acquisition agreement involving major stakeholders Yelimdang and Daemyung Sono Group. The dispute highlights growing concerns over transparency and fair treatment in corporate governance during ownership transitions.
ACC Aviation (UK) has announced the appointment of Alan Jordan as Chairman, a strategic move that follows the company’s transition to an Employee Ownership Trust (EOT). This leadership change aims to reinforce ACC Aviation’s long-term growth strategy and align with its employee-driven operational model.
FlyArystan, Kazakhstan’s first low-cost carrier, has initiated an independent investigation into financial irregularities after its management uncovered evidence of fund theft. The airline has contacted an external audit company to carry out a comprehensive review and provide clarity on the situation.
Regional Express (Australia), also known as Rex, is set to face legal action initiated by the Australian Securities and Investments Commission (ASIC) over allegations of making an inaccurate claim regarding its fiscal 2023 financial outlook. The case arises from a public statement by Rex forecasting a positive fiscal outlook for 2023, which ASIC claims was inaccurate or potentially misleading….
