Spirit Airlines, a prominent ultra-low-cost carrier in the United States, has announced that it still expects shareholders will be wiped out as the airline progresses with its restructuring deal. The plan includes transferring control of the airline to its bondholders, marking a significant shift in its ownership structure.
The Nivelles enterprise court has approved the takeover of Air Belgium by Peso Aviation Management (Netherlands) and Air One Holding International (UK). The new ownership marks a significant shift for the Belgian carrier, which will now focus exclusively on cargo operations. The restructuring will also see the workforce reduced from 401 employees to 197, reflecting the streamlined focus on cargo services.
Spirit Airlines (US) has received court approval to sell five of the 23 aircraft it has deemed surplus to requirements to GA Telesis (US). The agreement is part of a broader deal that could generate $518.9 million for the airline if all the aircraft are sold.
Tunisair, Tunisia’s national carrier, has appointed Halima Khawaja as its new CEO as part of a broader management shakeup and restructuring effort aimed at improving the airline’s operations and financial performance. Khawaja steps into her role with a mandate to guide Tunisair through this critical period, focusing on streamlining processes and optimizing the carrier’s organizational structure to address long-standing challenges.
Spirit Airlines, based in the United States, has cautioned that its shareholders could see their equity wiped out as the airline negotiates a restructuring deal with creditors. This announcement underscores the financial difficulties Spirit faces as it seeks to stabilize its operations through a comprehensive restructuring plan, which could impact current shareholder value significantly.
Spirit Airlines, a US-based low-cost carrier, has announced a delay in filing its 10-Q quarterly report due to ongoing restructuring discussions with noteholders. The airline’s decision to postpone the filing reflects its focus on managing debt and financial commitments as it navigates restructuring efforts. These discussions are part of a broader strategy to address Spirit’s financial stability amid…
Alitalia, the historic Italian airline, has commenced a mass dismissal process affecting 2,059 employees as part of its ongoing restructuring. This move signifies a major workforce reduction as the company continues to navigate financial difficulties and operational restructuring. The employees impacted by this dismissal will be permanently laid off, marking a significant step in Alitalia’s effort to…
GOL, the Brazilian airline, has entered into a Plan Support Agreement with the Abra Group (UK), its affiliates, and unsecured creditors to facilitate the airline’s financial restructuring under Chapter 11. This agreement will reduce GOL’s prepetition debt and obligations by approximately $2.5 billion, a substantial move aimed at stabilizing its finances and preparing for a sustainable future.
