FlightGlobal
• Kerry Reals
Pegasus Airlines has completed its acquisition of Czech Airlines and Smartwings Group after securing the required regulatory approvals, concluding a process that began with its bid 10 months ago. The combined operation comprises 175 aircraft, while Czech Airlines and Smartwings will continue operating as separate brands.
Aircraft Demand: Airline Distress & Consolidation
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Pegasus Airlines has completed its acquisition of Czech Airlines and Smartwings Group after securing the required regulatory approvals, concluding a process that began with its bid 10 months ago. The combined operation comprises 175 aircraft, while Czech Airlines and Smartwings will continue operating as separate brands.
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Romanian carrier AnimaWings has entered judicial reorganisation after recurring technical problems contributed to the grounding and withdrawal of its entire fleet of six Airbus A220-300s. The airline says it will continue operating during the restructuring and seek to preserve as many scheduled routes as possible.
Garuda Indonesia’s finances have deteriorated further only months after sovereign wealth fund Danantara provided a $1.4 billion rescue. Surging fuel costs have wiped out the flag carrier’s remaining equity, increasing pressure for a new share sale to restore its balance sheet.
PT AirAsia Indonesia is considering restructuring part of its liabilities and selling shares as it seeks to repair a balance sheet that has kept the low-cost carrier’s stock suspended since July. The measures signal continued financial pressure and uncertainty around the airline’s path to restoring normal trading.
An official committee of unsecured creditors has been formed in airBaltic’s Chapter 11 restructuring, according to documents filed with the U.S. Bankruptcy Court for the Southern District of New York. The committee gives unsecured claimants a formal role in the carrier’s court-supervised restructuring process.
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Spanish low-cost carrier Volotea has filed for preliminary creditor protection in Barcelona as it seeks to recapitalize amid sustained high jet-fuel prices. Its restructuring plan reportedly includes a significant reduction in its Airbus narrowbody fleet, job cuts in Barcelona and a potential transfer of control to Aegean Airlines.
Brazilian carrier Azul has secured up to R$2.66 billion ($511 million) in long-term financing from the Brazilian Development Bank. The company plans to use the proceeds to pay down existing debt and bolster liquidity, providing additional financial support as it manages its balance sheet and ongoing operations.
airBaltic is removing airsickness bags from seat-back pockets and trash bags from cockpits as the airline intensifies cost-cutting. The changes affect both passengers and crews and come as the carrier continues operating under a Chapter 11 restructuring process.
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