Tag: bankruptcy

Bankrupt Air Berlin to Stop Flying at the End of the Month

Reading Time: 2 minutes When Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection, the stricken carrier was given a government bridging loan of €150 million (US$177 million) to keep it operational while a buyer, or buyers were sought. It was hoped that the carrier would prove more attractive if it remained operational and the loan was intended to […]

Monarch Airlines Goes Bankrupt Leaving 110,000 People Stranded

Reading Time: 2 minutes British leisure carrier Monarch Airlines ceased operations with immediate effect, leaving 110,000 customers stranded overseas and about 300,000 future bookings canceled. “We’re sorry to announce that Monarch has suspended flights and holidays,” the airline said on Twitter. Tough competition in the sector has been putting pressure on weaker European carriers and driving consolidation, with airberlin […]

Air Berlin Set To Axe Alitalia Wet-Lease

Reading Time: 2 minutes As part of the ongoing rationalization of its operations, Air Berlin will shortly discontinue a wet-lease agreement with fellow Etihad Airways equity partner Alitalia. At present, the bankrupt Italian carrier operates two A320-200s – EI-DSX (msn 3643) and EI-DSZ (msn 3695) – for the bankrupt German carrier on flights from Berlin Tegel to each of […]

Airberlin To Cut All Caribbean Long-Haul Routes

Reading Time: < 1 minute German carrier airberlin, which filed for bankruptcy last month, is to close all of its long-haul routes to the Caribbean from Sept. 25 because of cuts to its long-haul fleet. On Sept. 11, the oneworld member said its entire Caribbean network will be closed, including flights from Dusseldorf to Curacao (Dutch Antilles), Cancun (Mexico), Havanna […]

Etihad’s Troubles In Europe Are Getting Worse

Reading Time: 2 minutes Alitalia’s staff rejecting a last minute restructuring bid to keep the airline afloat, has not only pushed the European airline to begin bankruptcy proceedings for the second time in a decade, but has also put Abu Dhabi-based Etihad’s European future in question. Etihad paid €560 million for its 49 percent stake in Alitalia in 2014, […]

Aeroflot Files For Bankruptcy of Orenair, Donavia Subsidiaries

Reading Time: < 1 minute Russia’s Aeroflot Airline has filed for bankruptcy of its Orenburg-based Orenair and Rostov-on-Don-based Donavia subsidiaries, according to documents filed in Orenburg and the Rostov region’s commercial courts this month. A trial date for OrenAir has been set for Feb. 9, according to the commercial court database, reported by ATWonline.com. In August 2016, Aeroflot recovered a […]

VLM Airlines Files for Bankruptcy, Cancels All Flights

Reading Time: < 1 minute Belgian air carrier VLM Airlines announced the company has filed for bankruptcy and that all flights moving forward have been canceled. VLM Airlines filed a formal application asking for credit protection in May in order to avoid filing bankruptcy for six months. As time went on, the airline stated that it didn’t have enough time […]