Tag: bankruptcy
REPORT: Chinese court approves creditor bankruptcy moves for affiliates of Hainan...
A court in China’s Hainan province has approved applications from creditors to place 10 affiliates of Hainan Airlines Holding in bankruptcy reorganisation, including six...
REPORT: Hainan Airlines owner HNA Group in bankruptcy after debt restructuring...
HNA Group, one of China’s largest global asset buyers spawned from the country’s largest privately owned airline, has been declared bankrupt, after a government-led...
Virgin Australia CEO resigns
The administrators for Australian carrier Virgin Australia Group today (15 October) announced that CEO Paul Scurrah will step down when the airline’s sale to...
Virgin Australia’s unsecured creditors to get 9-13% return on their money...
Failed airline Virgin Australia’s unsecured creditors will receive an average return of 9-13 percent on their money under the court approved plan by US...
Virgin Australia announces job cuts in bid to survive
Virgin Australia, which filed for bankruptcy in April and was recently acquired by Bain Capital, said Wednesday (5 August) that it planned to get...
AirAsia says board ‘confident’ LCC will survive
Malaysia’s AirAsia Group, headed by flamboyant founder and CEO Tony Fernandes, said Thursday (9 July) that despite the company’s auditors warning the low-cost carrier...
AirAsia’s auditors express ‘significant doubt’ airline can continue as ‘going concern’
Malaysia’s storied AirAsia, founded by Tony Fernandes, appears to be in deep trouble after the company’s auditors filed a report with the stock exchange...
UPDATED: Thai Airways to be ‘rehabilitated’ via bankruptcy court
The government of Thailand announced Tuesday (19 May) that flag carrier Thai Airways International will be restructured in a bankruptcy court in a process...
UPDATED: Satellite communications provider Intelsat files for Ch. 11 reorganisation in...
Satellite communications provider Intelsat, which had substantial commercial aviation clients, announced it has filed for Chapter 11 bankruptcy in the United States, weighed down...
COVID-19: Virus claims another airline as Air Mauritius files for administration
Indian ocean carrier Air Mauritius has gone into administration as the result of the global shutdown of international flights and the closing of national...