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Azores Airlines Faces Insolvency Risk If Privatization Fails

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Azores Airlines, the regional flag carrier of Portugal’s Azores archipelago, may be forced to declare insolvency if its ongoing privatization process does not succeed, according to Duarte Freitas, a senior official from the Regional Government of the Azores. The financial exposure in such a case could exceed US$350 million, placing substantial pressure on regional and national stakeholders.

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ACG Air Cargo Germany Loses $147.6 Million Lawsuit Over License Suspension

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ACG Air Cargo Germany’s insolvency administrator has suffered a legal setback after the Braunschweig Regional Court ruled against its $147.6 million lawsuit against the Federal Aviation Office. The case centered on the carrier’s claim for damages following the suspension of its operating license, which it argued led to financial losses and insolvency.

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Go First Creditors Approve Dinkar Venkatasubramanian as Liquidator

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Go First (India) has reached a significant milestone in its bankruptcy proceedings, with the committee of creditorsapproving Dinkar Venkatasubramanian as the liquidator. This decision is expected to guide the airline’s resolution process, ensuring compliance with legal and financial frameworks.

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Rhein-Neckar Air Files for Insolvency Amid Financial Challenges

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Rhein-Neckar Air, a regional airline based in Mannheim, Germany, has filed for insolvency, citing significant financial challenges. The airline, known for connecting the Rhine-Neckar metropolitan region with destinations such as Berlin and Hamburg, has suspended all operations as of November 1, 2024.