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
The financial impact of grounding its 65 Boeing 737 Max 9s in January pushed Alaska Air Group to a $132 million loss in the first quarter of 2024.
UK low-cost carrier EasyJet expects to post a pre-tax headline loss of between £340-360 million ($423-448 million) for the six months ended March 2024.
A group of US consumers have filed a lawsuit in a federal district court to block on anticompetitive grounds Alaska Airlines’ proposed $1.9 billion acquisition of rival West Coast carrier Hawaiian Airlines.
