5 airlines in deep distress- will they survive?
Lots of Airlines have shut shop in 2019. WOW Air, Jet Airways, ThomasCook Airline, Primera Air, Germania, Zoomair India to name a few.
However, the sad story doesn't seem to end. While you are preparing for Christmas and new year, employees of multiple airlines in different parts of the world are worried about their future while the airline bosses are desperately scrambling to save their airline. At least four more airlines around the world are in deep distress and struggling to survive. This post is a quick roundup and hoping they survive
1. Hong Kong Airways
Hong Kong Airways is unable to pay salary to its staff, has suspended all long haul flights and is risking losing its license if it can't revive itself in a week's time. Airline is scrambling to infuse cash and survive. [Bloomberg news]
2. South African Airways
Sam Chui reports South African Airways is edging towards collapse having having made profit only once and surviving on thin thread of support for decades.
3. Atlas Global suspends flights till December 21
Atlas Global, Turkey's second largest airline has suspended its flights till December 21. They haven't declared bankruptcy and are hoping to recover. Let us see.
4. Norwegian
Scandinavian Carrier Norwegian has suspended several long haul flights. Airline is facing huge debts and is desperately looking to cut costs and survive. They are operating few long haul flights to USA from Oslo and doesn't look like they are in immediate danger, but you never know.
5. Alitalia set to get govt lifeline
Italy's Alitalia is getting govt funding while hunt is on for the investors. Govt is pumping in almost half a billion dollar into the airline, although termed as a loan [news]
Of course we have Air India as well, with ever mounting debts and repeatedly counting on Govt bailout, looking to be sold out in 2020. But Air India will mostly change ownership, not closure. so I am not counting as suspect #6
Aware of any other major airline facing survival issues? Do comment.
Let us see what 2020 has in store for aviation Industry.
However, the sad story doesn't seem to end. While you are preparing for Christmas and new year, employees of multiple airlines in different parts of the world are worried about their future while the airline bosses are desperately scrambling to save their airline. At least four more airlines around the world are in deep distress and struggling to survive. This post is a quick roundup and hoping they survive
1. Hong Kong Airways
Hong Kong Airways is unable to pay salary to its staff, has suspended all long haul flights and is risking losing its license if it can't revive itself in a week's time. Airline is scrambling to infuse cash and survive. [Bloomberg news]
2. South African Airways
Sam Chui reports South African Airways is edging towards collapse having having made profit only once and surviving on thin thread of support for decades.
3. Atlas Global suspends flights till December 21
Atlas Global, Turkey's second largest airline has suspended its flights till December 21. They haven't declared bankruptcy and are hoping to recover. Let us see.
4. Norwegian
Scandinavian Carrier Norwegian has suspended several long haul flights. Airline is facing huge debts and is desperately looking to cut costs and survive. They are operating few long haul flights to USA from Oslo and doesn't look like they are in immediate danger, but you never know.
5. Alitalia set to get govt lifeline
Italy's Alitalia is getting govt funding while hunt is on for the investors. Govt is pumping in almost half a billion dollar into the airline, although termed as a loan [news]
Of course we have Air India as well, with ever mounting debts and repeatedly counting on Govt bailout, looking to be sold out in 2020. But Air India will mostly change ownership, not closure. so I am not counting as suspect #6
Aware of any other major airline facing survival issues? Do comment.
Let us see what 2020 has in store for aviation Industry.
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