Articles tagged “bankruptcy”

Airlines

UK Regional Airline Flybe Shuts Down, Again

Maybe Flybe failed for a reason the first time around.

UK Regional Airline Flybe Shuts Down, Again

Airlines

Mexico Buys Defunct Mexicana Airline Brand for $42 M

Considering the dim global track record for reinvigorating failed airline brands, this can’t be seen as much more than providing some compensation to the former workers abandoned after Mexicana’s failure. But some retro Mexicana flight bags would still be pretty cool.

Mexico Buys Defunct Mexicana Airline Brand for $42 M

News Blog

Former Thomas Cook CEO Peter Fankhauser Returns to Travel

Peter Fankauser is marking his official return to travel after a three-year absence, as he takes on the role of chairman at Germany's itravel Group. He has also previously been an investor and consultant at the Cologne-based tour operator. Fankauser was CEO of Thomas Cook Group from 2014 up until its collapse in September 2019.…

Airline Weekly

SAS’ Long Road to Bankruptcy

Scandinavian airline SAS is in bankruptcy after years of struggles. Edward Russell and Jay Shabat discuss how the carrier could still struggle to extract needed savings, particularly from aircraft lessors.

SAS’ Long Road to Bankruptcy

Airlines

SAS Joins List of Airline Failures and Bankruptcies Since Pandemic’s Start

The list of pandemic airline bankruptcies keeps growing even as travel bounces back faster than anticipated. But hundreds-of-millions-of-dollars in government aid didn't save SAS, which became the latest victim Tuesday.

SAS Joins List of Airline Failures and Bankruptcies Since Pandemic’s Start

Airline Weekly

SAS Airlines’ Bankruptcy Follows Months of a Showdown Over Aircraft Leases

The pandemic took its latest aviation victim with Scandinavia's SAS filing for Chapter 11 Tuesday. But the bankruptcy is more about extracting cost savings from aircraft lessors than breaking a pilots strike that has grounded much of the airline.

SAS Airlines’ Bankruptcy Follows Months of a Showdown Over Aircraft Leases

News Blog

Scandinavia’s SAS Files for Bankruptcy Protection in the U.S.

Scandinavian airline SAS has voluntarily filed for chapter 11 bankruptcy protection in the U.S., to try and secure time and flexibility to reorganize its capital structure, reduce costs, and complete a financial restructuring under the supervision of the U.S. court system. SAS expects to complete its court-supervised process in the U.S. in 9-12 months. The airline…

News Blog

South America’s Largest Airline Latam Cleared to Exit Bankruptcy

South America's largest airline, Latam Airlines Group, can exit its U.S. Chapter 11 bankruptcy restructuring after a judge approved its reorganization plan Saturday. The Chile-based carrier will exit its restructuring leaner than when it went in after shedding its Argentine subsidiary, but with $8 billion in new capital including $5.4 billion in new financing from…

Business Travel

Corp Travel Giant CWT’s Secret to Managing the Labor Shortage

Travel management firms face challenges helping their customers deal with widespread travel disruption this year, the inevitable knock-on effect from the wider industry's own struggles with labor shortages. CWT needs to staff up as quickly as possible.

Corp Travel Giant CWT’s Secret to Managing the Labor Shortage

Airlines

LATAM Airlines Asks for $2.75 Billion in New Loans to Exit Bankruptcy

It sounds crazy, yes. Take on new debt to get yourself out of the hole of bankruptcy. But LATAM execs say they have a plan, and it all makes sense as travel comes roaring back.

LATAM Airlines Asks for $2.75 Billion in New Loans to Exit Bankruptcy