Brazilian airline Gol said on Wednesday it has signed a deal with shareholder Abra to reinforce its current restructuring plan and raise credit to exit bankruptcy, including the conversion of $950m in Abra's secured debt into Gol shares. Abra is the main investor in airlines Gol and Avianca. The agreement is related to Gol's Chapter 11 request, filed in January. According to the filing, Gol will present a restructuring plan that will allow a significant reduction of its leverage. The airline will convert into shares or otherwise extinguish up to $1.7b of its existing pre-Chapter 11 debt and up to $850m in other obligations. Abra agreed to receive approximately $950m in new Gol shares, conditional on the resolution of certain outstanding issues, in addition to $850m in restructured debt. Under the agreement, Gol said it plans to raise up to $1.85b in new capital in the form of a Chapter 11 exit credit line to pay off debtor-in-possession obligations and provide additional liquidity to support the company's future strategy. Gol stated that it hopes to present its reorganization plan to exit Chapter 11 before the end of this year "and currently projects the exit by the end of April 2025."<br/>
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One of Canada's biggest airlines was back in B.C. Supreme Court on Wednesday, where it is facing allegations its reimbursement practices are deceptive. Advocacy group Air Passenger Rights is seeking an injunction that would block WestJet from using the alleged policy, ahead of a future trial on the matter. Air Passenger Rights claims that WestJet has imposed arbitrary caps that aren't supported by Canadian regulations on reimbursements for accommodations and food to stranded passengers. On Wednesday, the court accepted last-minute evidence in the form of an affidavit from Kahlyn Natividad, a WestJet passenger who was stranded in Los Angeles with her parents for five nights this summer due to the WestJet strike. "It's so stressful. I have to go through all of this, go through everything, it's eating all my time," Natividad told Global News. Natividad said when her flight was cancelled on June 29, WestJet sent her an email telling her to book her own hotel, which the airline would reimburse up to $150 per night. "Holiday Inn was the cheapest hotel in L.A. during that time," she said, adding that the unexpected stay ended up putting her thousands of dollars out of pocket.<br/>
Saudi startup Riyadh Air is wading back into the jet market after buying dozens of Airbus and Boeing planes and aims to finalise a new deal involving the industry's largest twin-aisle jets early next year, its CE said. The country's newest national airline is weighing up the Boeing 777X and the Airbus A350-1000 and expects to make a decision in the first or second quarters of 2025, CEO Tony Douglas told Reuters. Riyadh Air last year ordered 39 Boeing 787 wide-body jets with options for another 33 as part of a wider deal also involving national carrier Saudia, and last week it added a firm order for 60 Airbus A321neo-family aircraft. Douglas declined to comment on the size of the new order but reiterated that the airline, which plans to start operations next year, ultimately aimed to operate more than 200 aircraft.<br/>Douglas told Reuters in a separate interview last week that Riyadh Air would start formal talks for a new order for large wide-body aircraft within two months. The roughly 200-seat A321neo is an in-demand single-aisle aircraft that competes with the larger versions of Boeing 737 MAX. Airbus says it is sold out through the rest of the decade. Despite the long lead times for most new purchases, Douglas said the A321neos would be delivered between the second half of 2026 and the end of 2030 and hinted at further purchases. "That puts us right back in the standard order window with Airbus so the door is wide open," he said.<br/>
Brunei Darussalam warmly welcomed passengers from the inaugural Royal Brunei Airlines (RB) direct flight from Chennai, India to Bandar Seri Begawan with a vibrant cultural reception at Brunei International Airport on Wednesday. The event marks a new milestone in strengthening bilateral ties between Brunei and India, showcasing the growing potential for travel and tourism between the two nations. Present at the reception were representatives from Tourism Development Department and RB. According to a press release from the Brunei Tourism Development Department, India has consistently been one of Brunei Darussalam’s top 10 source markets for tourism arrivals by air. As of June 2024, Brunei has already welcomed 4,398 tourists from India, a significant increase that surpassed the total arrivals of 3,555 recorded for 2023. This notable increase reflects the appeal of Brunei as a unique destination for Indian travellers, with its rich cultural heritage, natural landscapes, and exciting adventures. The launch of a direct flight from Chennai, the department said, is expected to further strengthen this upward trend, providing more convenient travel options and encouraging even greater numbers of visitors from India in the coming years.<br/>