Spirit Aviation Holdings (US), the parent company of Spirit Airlines, has announced that Spirit Airlines has successfully completed its financial restructuring, marking a significant step in stabilizing its financial position and reducing debt obligations. The airline converted approximately $795 million of funded debt into equity, significantly lowering its leverage and improving its financial flexibility.
Capital A, the parent company of AirAsia, has secured approval from Bursa Malaysia Securities for its proposed regularisation plan, a key milestone in its efforts to exit Practice Note 17 (PN17) status. This approval allows the company to move forward with its financial restructuring and business reorganisation, reinforcing its long-term growth strategy.
Air Mauritius, facing ongoing financial difficulties, is in urgent need of an equity cash injection, according to its newly appointed chairman, Kremchand Beegoo. The airline is actively working to assess its financial standing, restructure its ownership model, and convince shareholders to support its recovery.
Azul (Brazil) has had its credit rating downgraded to ‘SD’ (Selective Default) by S&P Global Ratings (US) after completing a distressed debt exchange. The downgrade reflects S&P’s classification of Azul’s recent debt restructuring as distressed, rather than a conventional market transaction.
HNA Holdings, a leading Chinese conglomerate, has announced its intent to sell nine Boeing B787-8 aircraft as part of its ongoing effort to dispose of non-core assets. This move aligns with the company’s broader strategy to streamline its operations and improve financial stability.
Nok Air, a low-cost carrier based in Thailand, was officially delisted from the Thai Stock Exchange on January 9, 2025, marking the end of its 11-year presence as a publicly traded company. The delisting is part of the airline’s ongoing efforts to navigate through a challenging rehabilitation process.
Aeroitalia Regiona, a regional airline based in Romania, has officially been declared insolvent by the Bucharest Court. This development marks a significant financial setback for the carrier, which has faced increasing challenges in maintaining its operations.
Avianca Group International‘s subsidiary, Avianca Midco 2, has officially announced an offer to exchange any and all of its outstanding 9.000% Tranche A-1 Senior Secured Notes for newly issued 9.000% Senior Secured Notes, both maturing in 2028. This exchange aims to provide enhanced financial flexibility and optimize the company’s capital structure.
Silver Airways (US) has announced that it will utilize cash collateral to cover its operating expenses for an initial two-week period. This move comes as the airline works to secure Debtor-in-Possession (DIP) financing, which is essential for stabilizing its financial position and continuing operations.
Azul (Brazil), along with its subsidiary Azul Secured Finance, has announced the early participation results for its previously disclosed notes exchange offers. The exchange offers yielded high participation rates, with 99.6% of the outstanding principal amount of the 11.930% Senior Secured First Out Notes due 2028 tendered. Additionally, 97.8%of the 11.500% Senior Secured Second Out Notes due 2029 and 94.4% of the 10.875% Senior Secured Second Out…
