Reuters
• Andrius Sytas, Gianluca Lo Nostro
Latvia’s national carrier has voluntarily filed for Chapter 11 protection in the Southern District of New York to restructure its debt and operations, securing up to €350 million in debtor-in-possession financing. airBaltic says flights will continue normally during the proceedings.
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Latvia’s national carrier has voluntarily filed for Chapter 11 protection in the Southern District of New York to restructure its debt and operations, securing up to €350 million in debtor-in-possession financing. airBaltic says flights will continue normally during the proceedings.
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The Czech competition authority approved Pegasus Airlines’ acquisition of Smartwings subject to the surrender of summer slots on the Prague–Antalya route. Turkey had already cleared the €154 million transaction, removing a major regulatory hurdle before the deal can close.
Transat A.T. has obtained an additional C$250 million in federal aid after higher fuel and labor costs pushed the parent of Air Transat into a fiscal third-quarter loss. The suspension of Cuba service has cost the company about US$84 million over nine months, prompting the carrier to hold capacity flat.
South Korean carrier Sirius Airlines is seeking a buyer as part of rehabilitation proceedings, opening a potential ownership or rescue process. The development places the airline’s future, including the viability of its operations and obligations, under review.
News reports that Google won an auction for a large volume of Spirit Airlines’ operational data during the carrier’s bankruptcy proceedings have triggered concern over the transfer of commercially sensitive information. The sale highlights the strategic value—and potential consequences—of airline data in insolvency cases.
Latvian carrier airBaltic is seeking approval for up to €257 million ($300 million) in emergency financing at a 25% annual interest rate. The funding is intended to provide liquidity while the airline undertakes a major operational restructuring.
A Pakistani court is considering a dispute over the proposed privatization of Pakistan International Airlines, placing the carrier’s ownership transition and restructuring plans under legal scrutiny. The case could affect the timing and terms of efforts to shift PIA into private hands.
The proposed merger of Mexican low-cost carriers Volaris and Viva has cleared U.S. regulatory review, reducing the likelihood of further scrutiny from American authorities. A Mexican government commission is expected to decide on the transaction by year-end, leaving domestic approval as the key outstanding hurdle.
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