Airlines Bankruptcy News

Malév Hungarian Airlines ceases operations

Malév Hungarian Airlines ceases operations

3rd Feb 2012 Airline News

Malév Hungarian Airlines has ceased operations under pressure from rising debt. A statement from the Hungarian flag-carrier read: “At 05:00 GMT, after 66 years of almost continuous operation, Malév will no longer take off.”

Japan Airlines to cut 16,000 jobs

Japan Airlines to cut 16,000 jobs

31st Aug 2010 Airline News

Japan Airlines is to cull a third of its workforce, more than 16,000 jobs, and close a number of unprofitable domestic and international routes as part of its aggresive restructuring plan.

Mexicana stops all flights

Mexicana stops all flights

28th Aug 2010 Airline News

Mexicana de Aviacion has suspended all flights, three weeks after filing for bankruptcy protection as a last-minute rescue package failed to materialise.

Mexicana strikes deal with cabin crew

Mexicana strikes deal with cabin crew

10th Aug 2010 Airline News

Mexicana de Aviación has secured a potentially significant victory as it battles for survival, with cabin crew at the troubled airline agreeing to defer wages. Crew will postpone payment for up to two months, with pilots at Mexico’s largest airline considering a similar move.

Mexicana suspends London Gatwick service

Mexicana suspends London Gatwick service

9th Aug 2010 Airline News

Mexicana Airlines has suspended all flights from London Gatwick to Mexico City after filing for bankruptcy protection last week. The route, which was launched in October 2008, is one of 18 being halted over the next two days as the airline undergoes a financial restructuring programme as it bids to slash its £628 million debt mountain.

Iraqi Airways goes bankrupt

Iraqi Airways goes bankrupt

27th May 2010 Airline News

The Iraqi government has closed national carrier Iraqi Airways over a dispute dating back to Saddam Hussein’s invasion of Kuwait in 1990. Kuwait Airways claims that the Iraqi flag carrier owes it $1.2bn for aircraft and plane parts seized during the first Gulf War. All flights have been cancelled with immediate effect, including services to London, Dubai, Cairo and Istanbul.