Saddled with debts totalling nearly $1 billion and an ongoing labour dispute opposing a radical restructuring plan, Aerolineas Argentinas filed for bankruptcy protection on 21 June. With losses reported to be up to $30 million a month, Spanish state holding company SEPI, 85% shareholder of the Buenos Aires-based airline, and the Argentine Government (5% owner) are refusing to provide any more money.
Source: Flight International
Southwest Airlines on 4 November disclosed the appointment of Rakesh Gangwal as independent chair of the company’s board of directors, filling the role left vacant by former executive chairman Gary Kelly.
New York investment firm Stonepeak has signed an agreement to acquire US air cargo and aircraft leasing company Air Transport Services Group (ATSG) for $3.1 billion under a deal that would make ATSG a private company.
ANA Holdings has maintained its full-year earnings forecast amid strong inbound and domestic passenger travel demand, even as its half-year profit slipped.
