The Scandinavian arm of failed leisure carrier Thomas Cook Airlines resumed flight operations Sept. 24, a day after parent company Thomas Cook Group filed for bankruptcy and triggered a huge repatriation effort to return passengers home.
Dubai Aerospace Enterprise (DAE) has secured a contract from an undisclosed “world-class financial institution” to source and manage a $1.4 billion aircraft portfolio, which will double the value of its managed fleet to over $2.7 billion.
A French commercial court is considering the two remaining offers for all or part of French airline Aigle Azur’s assets after UK LCC easyJet dropped out of the running as a liquidation deadline looms.
Cash-strapped Slovenian carrier Adria Airways has ceased the majority of its flights for two days, with effect from 2330 local time on Sept. 23, because of liquidity problems.
Slovenian carrier Adria Airways has had two Bombardier CRJ900s recalled by their lessor and is “intensively looking for solutions” to stabilize operations.
The grounding of UK leisure carrier Thomas Cook Airlines is likely to spark interest in the airline’s slot portfolio at London Gatwick Airport, although the slots are highly seasonal.
The UK CAA has wet-leased aircraft from operators around the world to support a massive repatriation of Thomas Cook Airlines passengers stranded by the compulsory liquidation of UK leisure operator Thomas Cook.
German leisure carrier Condor is urgently seeking bridge financing and a new investor after its parent company, Thomas Cook Group, filed for bankruptcy Sept. 22.
The CEO of insolvent French airline XL Airways has appealed to Air France to save the carrier, saying it could boost the group’s long-haul LCC offerings.
Leisure travel specialist Thomas Cook is holding last-ditch talks with potential investors in an effort to stave off a financial collapse that could leave hundreds of thousands of travelers stranded.
Volotea—a Barcelona-based LCC specializing in point-to-point service between Europe’s secondary cities—is sticking to its plan for growth over the coming years, after a summer deemed satisfactory in load factor and regularity.
AirAsia co-founder Tony Fernandes said he will be stepping down from most board positions, but will remain on the boards of AirAsia Group and AirAsia X and continue as group CEO.
French airline XL Airways has declared insolvency, citing “great financial difficulties” and stopped selling tickets, in the latest casualty to hit the French airline industry.
Air France and Groupe Dubreuil, the parent company of Air Caraibes and French Bee, have withdrawn their joint offer for Aigle Azur, saying the French carrier’s social liabilities mean they could not envision an economically viable plan.
Greek carrier Aegean Airlines reported a 2019 second-quarter net income of €22 million ($25 million), up 30% from €17 million in the year-ago period, as a result of consistent growth and efforts to extend the tourism season.
FedEx Corp. revised its revenue outlook sharply lower amid weakening global trade and sagging industrial production, causing shares to fall nearly 13% in trading Sept. 17.
France wants the would-be buyers of Aigle Azur’s activities to improve their bids and take on more of its employees, France’s secretary of state for transport Jean-Baptiste Djebbari said Sept. 17.
A deadline for would-be investors in Alitalia to present their business plan for the relaunch of the bankrupt Italian flag carrier has been pushed back once again, this time to Oct. 15, a union source confirmed to ATW.
