Bloomberg
• Dorothy Ma, Reshmi Basu
A group of JetBlue creditors is working with PJT Partners and Akin as the airline faces cash burn and rising fuel costs, according to people familiar with the matter. The lenders are organizing ahead of the carrier’s third-quarter earnings report, as its turnaround comes under mounting pressure.
Aircraft Demand: Airline Distress & Consolidation
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A group of JetBlue creditors is working with PJT Partners and Akin as the airline faces cash burn and rising fuel costs, according to people familiar with the matter. The lenders are organizing ahead of the carrier’s third-quarter earnings report, as its turnaround comes under mounting pressure.
Dan Air filed for insolvency proceedings at the Ilfov Tribunal on Oct. 22, seeking protection from creditors and a chance to reorganize. The Romanian carrier cites about €10 million owed to the Environmental Fund Administration; its flight schedule is continuing for now, but operations face uncertainty.
airBaltic is asking a New York bankruptcy court to approve an October 2026 wet-lease agreement with Austrian Airlines, alongside related amendments and other commercial agreements with Lufthansa Group. The request puts the carrier’s commercial arrangements with the group before the court as it proceeds through Chapter 11.
South African Airways said it received a ZAR1 billion ($61 million) state guarantee in August 2026 to support working capital. The backing comes as higher fuel prices pressure the carrier’s operations and finances, underscoring the impact of cost increases on its near-term liquidity needs.
Romanian airline Dan Air has filed for bankruptcy protection, placing its financial distress into a formal legal process. The available report provides no details on the filing’s timing, liabilities, fleet, operations or requested restructuring measures, leaving the immediate operational implications unclear.
airBaltic has secured the remaining $39 million of its first debtor-in-possession financing tranche. The report provides no further details on the tranche’s total size, financing terms or how the funds will be used.
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