As LATAM went hunting for cash to see it through bankruptcy it leaned on old friends. But when it comes time to convert the debt to equity, restoring ownership for Delta, Qatar and the Cueto family, the deal proved a bit too sweet for the US Bankruptcy Court to accept.
Delta Air Lines
United announces new long-haul routes for 2021
Airline route networks must adapt to shifting demand and long-haul operations are no exception. United Airlines is the latest player to make a move on that front, announcing seven routes today with service slated to launch between December and Summer 2021. The carrier will be reopening some destinations, expanding others and inaugurating a couple of markets never before served.
Delta sees A220 schedule trimmed as pilot furloughs loom
As Delta Air Lines and its pilots battle over impending furloughs an unlikely candidate for collateral damage is emerging. The carrier may be forced to ground some of its A220-100 fleet as it comes up short on First Officers to operate the type. The company notified 1,941 pilots last Friday of potential layoffs on 1 October.
Delta completes first Pratt & Whitney GTF engine overhaul
When Delta Air Lines announced a massive deal three years ago to bring the A321neo into its fleet the planes were just a part of the news. The maintenance support opportunity associated with the contract is huge, and Delta TechOps took a major step forward on that front late last month, completing the first comprehensive maintenance visit of a PW1100G-JM engine.
A stalled recovery: Airline traffic retreating
The commecial aviation industry as we once knew it faces a dire situation. And none of the recent data offers much of the way in optimism for the coming months.
Spirit Airlines avoids pilot furloughs in October
Spirit Airlines will not involuntarily furlough any pilots in October when the CARES Act Payroll Support Program funding expires. The news comes just days after the company and the Air Line Pilots Association representing its pilots indicated that 117 positions were at risk.
Gogo confirms "extensive" discussions to sell commercial airline inflight connectivity business
For more than two years Gogo teased the idea of splitting the company between its Commercial (airline) and Business (private) Aviation segments. The rumblings ebb and flow, but by mid-July the tone of the conversation was undeniable. Now the company confirmed the news. Gogo has retained outside advisors to assist with the formal process to “evaluate our strategic options” for the business.
LATAM’s unlikely recovery funding: Qatar Airways could boost Delta’s position
LATAM’s bankruptcy proceedings are getting interesting, with competing DIP funding proposals in play. And one reportedly contains a spectacularly unexpected arrangement between vicious competitors: Qatar Airways and Delta Air Lines.
Seeking a strategic use for Viasat’s $175 million raise
Was Viasat’s recent deal to secure $175mm in new capital just a matter of convenient timing? Or is there a specific plan for the cash? CEO Mark Dankberg got into some of the possibilities today, including potential inflight connectivity opportunities, while clearly leaving the door open for many more options to come.
Virgin Atlantic flied for bankruptcy protection today, and it mostly doesn’t matter
Virgin Atlantic filed for bankruptcy protection in the US courts on Tuesday, a move that initially sparked concerns among travelers about the future of the company. Fortunately the filing, made under Chapter 15 of the US Bankruptcy Code, is more of a procedural play than anything to be concerned about.