Articles tagged “bankruptcies”

Airline Weekly

Aircraft Lessor Nordic Aviation Capital Files for Bankruptcy Due to Pandemic

Aircraft lessors — which rent airplanes to the world's airlines — are doing relatively well during the pandemic, as airlines seek to shift the financial burdens of owning expensive assets off their balance sheets. But the shift in aircraft ownership didn't come soon enough for Nordic Aviation Capital, which has filed for Chapter 11 bankruptcy protection.

Aircraft Lessor Nordic Aviation Capital Files for Bankruptcy Due to Pandemic

Airline Weekly

Azul Backs Off Latam Takeover After Reorganization Filing

Brazilian airline Azul dropped its plans to acquire bankrupt Latam after Latam filed its reorganization plan with the U.S. court overseeing its restructuring. Had Azul persisted, it would have created the largest airline group in South America.

Azul Backs Off Latam Takeover After Reorganization Filing

Airline Weekly

Philippine Airlines to End New York, Toronto Flights Under Restructuring Plan

Bankrupt Philippine Airlines will end service to New York and Toronto as part of a rejigging of its route map under a restructuring plan it filed with a U.S. bankruptcy court on Thursday.

Philippine Airlines to End New York, Toronto Flights Under Restructuring Plan

Airlines

Norwegian Air Sees Spike in July Travelers Amidst Uncertain Prospects

The travel recovery is completely dependent on traveler confidence, vaccine availability and easing of travel restrictions. Will all this be enough to turn things around for Norwegian or will the pandemic and competition prove to be too much?

Norwegian Air Sees Spike in July Travelers Amidst Uncertain Prospects

Tourism

Greece’s Banks Are Counting On Tourists This Summer For Bad Loan Relief

Greek financial institutions are still weighed under the stress of the 2009 financial crisis. The threat to tourism businesses here is greater than most other destinations.

Greece’s Banks Are Counting On Tourists This Summer For Bad Loan Relief

Rental Cars

Hertz Looks to Travel Investor Certares to Lead It Out of Bankruptcy in $4.2 Billion Reorganization

It will certainly be a challenge to transform Hertz's business. However, the car rental company is not only getting a financial lifeline, but also an assist from private equity firm Certares' wide-ranging travel rollup strategy. This will be a long-term play.

Hertz Looks to Travel Investor Certares to Lead It Out of Bankruptcy in $4.2 Billion Reorganization

Coronavirus

Hotel Mortgage Delinquencies Reached Record Levels in July

Bad hotel loans in the United States in July reached record levels, 23.4 percent, but it could get worse if the coronavirus pandemic and its laissez faire enablers persist.

Hotel Mortgage Delinquencies Reached Record Levels in July

Airlines

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

The real restructuring happened three weeks ago, as Airline Weekly's analysts have noted. This move is just to facilitate that.

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

Online Travel

Travelport Strikes Deal With Creditors That For Now Could Save It From Bankruptcy

The existence of the deal, previously unreported, should reassure anyone about the travel tech company's near-term stability.

Travelport Strikes Deal With Creditors That For Now Could Save It From Bankruptcy

Airlines

Another European Airline Bites the Dust

Germania certainly won't be the last European airline to go under this year. 2019 looks like being as challenging as 2018 – even with fuel at a much more favorable price.

Another European Airline Bites the Dust