South African Airways (SAA) has been named in a corruption and maladministration probe conducted by the government’s Special Investigating Unit (SIU). This investigation is part of a broader effort to address alleged corrupt practices and mismanagement within the airline, which have reportedly led to significant financial losses for the state.
Air Lease Corporation (ALC) and several of its subsidiaries have successfully negotiated settlement agreements with a number of insurers, resulting in a substantial cash inflow of $328.5 million. These settlements are a significant part of ALC’s efforts to recuperate losses stemming from its $791.0 million write-off related to its aircraft interests that were detained in Russia.
Lufthansa, Germany’s flagship carrier, is making strides in its efforts to return to profitability, according to CEO Jens Ritter. While the initial success of the airline’s restructuring plan is promising, Ritter acknowledges that there is still work to be done to achieve sustained financial recovery.
AerCap CEO Aengus Kelly has expressed concerns over the potential impact of trade tariffs proposed by US President-elect Donald Trump. Kelly warned that these tariffs could disrupt global supply chains, posing a significant challenge to the aviation industry, particularly to manufacturers like Boeing.
LOT Polish Airlines (Poland) has completed the repayment of the second tranche of its pandemic-era loan, transferring a total of US$108.6 million plus interest to the State. This repayment marks another significant step in LOT’s financial recovery following the challenges posed by the global COVID-19 pandemic.
Capital A, the parent company of AirAsia and several other subsidiaries, has taken a significant step in its recovery process by submitting its Proposed Regularization Plan to Bursa Malaysia Securities. This marks a pivotal move in the company’s journey to exit the Practice Note 17 (PN17) status, which is associated with financial distress.
Dubai Aerospace Enterprise (DAE), based in the UAE, has announced cash proceeds of approximately US$201 millionfrom settlements with selected insurance companies. The settlements relate to aircraft previously leased to airline carriers in Russia.
Thai Airways International has undergone a significant shareholding restructure as part of a debt-to-equity conversion, altering the composition of its major shareholders. This move is a key element of Thai Airways’ broader restructuring plan aimed at improving its financial stability and positioning the airline for long-term recovery.
Thai Airways International is on track to exit its rehabilitation plan by mid-February 2025, marking a significant milestone in the airline’s recovery journey. The carrier, which has made strides in improving its financial situation, is also expected to resume trading on the stock exchange by May 2025.
