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THE AIRLINE FROM TATARSTAN HAS FILED FOR BANKRUPTCY

... But financial problems, including litigation with the organization's ex-founder, Azat Hakim, led Tulpar Air to bankruptcy. Anton Sidorkin currently holds the post of CEO of the airline. Experts estimate the company's assets at 760 million rubles. The airline's bankruptcy is partly related to the litigation that the organization conducted with its founder. On December 3, 2024, the Tatarstan arbitration court upheld Hakim's claims for payment of his share. The organization was ordered to pay 871 million to the ...

THE ESTONIAN AIRLINE IS PREPARING FOR BANKRUPTCY

... will receive notifications. The Estonian structure dealing with the problem of unemployed employees will be informed about the bankruptcy. NAG appeared in 2015. This happened after the leading carrier, Estonian Air, was declared bankrupt. Initially, the ... ... In 2019, the company stopped operating flights. The main activity was focused on the provision of services for the rental of airliners and their maintenance. The company was engaged in hiring and working with aircraft crews. But this model has proved ...

Philippine Airlines files for bankruptcy protection in US

... foreign airline to go bankrupt in the United States. Earlier, Rusbankrot already wrote about the restructuring processes that affected the Colombian carrier Avianca and the Chilean holding Latam . This happened in May 2020. Following them, the Mexican airline Aeromexico filed for bankruptcy with the court of US.

BELAVIA AIRLINES MIGHT FACE BANKRUPTCY DUE TO THE EU SANCTIONS

The RyanAir airliner, which made an emergency landing in Minsk on May 23, may become the reason for the bankruptcy of the national air carrier of the Republic of Belarus. A significant number of experts come to this conclusion, commenting on the sanctions of the authorities of European countries. The EU summit that took place may be crucial for the national ...

PHILIPPINE AIRLINES READY TO FILE FOR BANKRUPTCY

... February 2021, the representatives of airline confirmed that PAL is implementing an “enterprise-wide headcount reduction program”. The company announced the reduction of 2.3 thousand employees, which is approximately 30% of the total working staff of the airline. This was done by mid-March. In early May, information that PAL may turn to bankruptcy protection plans by the end of the month by filing an application in accordance with Chapter 11 of the US bankruptcy code was published by the Cirium research firm, which is engaged in data analytics in the aviation market. The company referred ...

THE TAX AUTHORITIES FAILED TO BANKRUPT THE AIRLINE FROM SURGUT

... stated requirements from the Federal Tax Service (case No. A75-3108/2024). As reported in court materials, by the time of the court session, a petition for termination of proceedings was submitted to the arbitration (paragraph 1 of Article 57 of the Bankruptcy Law). It turned out that there were no sources for financing the insolvency procedure, and the tax authority reported that it was impossible to do this at the expense of the treasury. According to Pravda UrFO, the airline could repay a significant part of the debt to the tax authorities. At the same time, the current trial is not the first in the history of the organization's relationship with fiscal authorities. At the end of 2023, employees of the Federal Tax ...

Legendary Italian airline Alitalia operates its final flight

... Alitalia's employees will work. Losses have plagued the company since 1999. The state authorities, apparently, are tired of allocating funds from the country's budget. Experts calculated that in 2008-2020, the authorities invested about € 10 billion in the airline. The company filed for bankruptcy back in 2017. After the authorities had unsuccessfully tried to attract an investor who would agree to buy the company, Alitalia went under external control. October 2020 was marked by the decision that the company will be restructured. As ...

THAI AIRWAYS LAYS OFF EMPLOYEES TO AVOID BANKRUPTCY

... has lost about $ 778 million, and its debt as of early May 2020 amounted to more than $ 2.8 billion. A significant part of the company's debt (about 78%) falls on bond payments. On May 19, 2020, the company was forced to apply to court and launch a bankruptcy protection proceedings similar to that provided for by the US law. Since the use of wide-body airliners has lost its relevance in the face of a reduction in tourist flow, and many aircraft were simply mothballed, the company announced its intention to get rid of a part of its fleet last week. The sale was supposed to affect all Airbus A380, Airbus ...

POLISH AIRLINES LOT MIGHT GO BANKRUPT

... without a financial recovery program. It is not yet known, whether the government allocation program will affect only LOT or the company's subsidiaries (Eurolot, LOT Charters and Centralwings) as well. Experts say that one of the reasons for the possible bankruptcy of Polish airlines is the conflict between PLL LOT and the German air carrier Condor. The German company, which LOT was going to acquire in early 2020, was left without the promised investment. The outbreak of the pandemic confused all the plans and the head of ...

ARMAVIR COMPANY V-BIRD-AVIA DECLARED BANKRUPT

... proceedings have been opened for the next six months, and Georgy Koshkosh has become an interim manager. In recent years, the organization has been receiving bankruptcy claims with enviable regularity. In 2017, the JSC Pskovavia tried to drive the airline to bankruptcy - the case was based on a claim to recover almost 16 million rubles for excess storage of several airliners in 2017-2018. Last year, four persons filed insolvency petitions to the arbitration court at once, including two citizens with the same ...

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