Another pair of airlines will halt operations, with the financial impact of COVID-19 the tipping point. LATAM Argentina and LEVEL Europe are both poised to shutter, though the larger parent operations of each will continue services.
bankruptcy
LATAM seeks US bankruptcy protection, plans to continue operations
South America’s LATAM Airlines Group filed for Chapter 11 bankruptcy reorganization in the US courts on Tuesday morning, seeking to restructure debt while continuing regular operations. Or, at least, operations as close to regular as possible given the current global aviation environment.
Avianca declares bankruptcy, seeks protection in restructuring
Colombia’s Avianca became the latest and largest carrier to seek financial protections as the coronavirus pandemic stretches on, grounding airlines and flummoxing their balance sheets
Flybe halts operations, enters Administration
Wednesday evening marked the end for embattled British regional airline Flybe. The carrier entered administration (a UK version of bankruptcy protection) and ceased operations. All future flights are canceled, leaving passengers, airports and employees across the United Kingdom to wonder what the future holds.
South African Airways secures funding, cuts lightly loaded flights
Nearly $240 million in bridge funding should help South African Airways continue its operations. But even with that funding the carrier continues to trim some frequencies from its operations.
The clock is ticking on Hong Kong Airlines’ demise
For Hong Kong Airlines the death watch clock is officially running. The beleaguered company has just five days to raise significant fresh capital. Failure to reach that goal will likely see the airline’s operating certificate revoked.
IFE out as Hong Kong Airlines continues its finances collapse
For Hong Kong Airlines the future is very, very uncertain. Cuts continue it is unlikely they will be enough to keep the carrier afloat too much longer barring a significant cash infusion and restructuring of the business. This week it is the inflight entertainment system that disappeared.
Thomas Cook halts operations, moves to liquidation
Airlines come and airlines go. Especially in the low cost arena. It is hard to get too excited or broken up as it happens. This is not even the first to go this month. But with Thomas Cook the story is somewhat different.
XL Airways halts ticket sales
French discount carrier XL Airways halted ticket sales on Thursday evening. That’s bad news for the LCC and could potentially spill over to the business class market as well, bringing La Compagnie down with it.
Trying to make sense of the new WOW Air plans
As detials on the new WOW Air plans emerge the business model remains an interesting proposition. With a heavy focus on cargo in a softening market and premium passenger experiences with low fares it is unclear how this company will truly deliver for its investors.