Air Canada and Pegasus Airlines have formed a new interline agreement. Air Canada customers will be able to book travel on nine Pegasus-operated routes, offering connections via major European gateways to Istanbul and the Aegean coastal city of Izmir. "Air Canada’s strategy is built on connecting people, markets and opportunities around the world," states Mary-Jane Lorette, vice-president, revenue management, partnerships and international affairs at Air Canada. "Our partnership with Pegasus Airlines expands our reach into Turkey, offering customers more ways to explore one of the world’s most dynamic regions while reinforcing our role as a leading global airline." Through the partnership, travellers flying to Air Canada's European gateways of Amsterdam, Frankfurt, Copenhagen, Munich, Geneva, Vienna, Zurich and Athens, can connect onward to Istanbul Sabiha Gokcen International airport, and from Frankfurt to Izmir Adnan Menderes airport. Air Canada and Pegasus are exploring expanding the partnership into a full codeshare in the future, which would include reciprocal loyalty programme benefits and enhanced co-operation across both carriers' international networks.

Azul has concluded its voluntary financial restructuring process under US Chapter 11 bankruptcy protection, completing it within nine months. "Throughout this process, Azul carried out a comprehensive transformation of its balance sheet and emerges from Chapter 11 having achieved its key objectives, including strengthening its capital structure, increasing liquidity, and substantially reducing indebtedness, enabling greater sustainability and long-term growth for its operations," says the Brazilian carrier in a 20 February filing to the US Securities and Exchange Commission. The restructuring was implemented through agreements with the airline's main creditors, including holders of its debt securities issued in the market, its largest aircraft lessor AerCap, and two strategic investors: United Airlines and American Airlines. Azul says it has reduced loans and financial debt by $1.1 billion and cut aircraft lease debt by nearly 40%. It estimates that annual interest payments will be more than 50% lower than pre-Chapter 11 levels. During the restructuring, Azul operated about 800 flights a day. It says: "Looking ahead, Azul remains focused on disciplined and sustainable growth, maintaining operational excellence, and generating long-term value for customers, crew members, and partners worldwide." It was on 28 May 2025 that Azul filed for Chapter 11 in the US Bankruptcy Court for the Southern District of New York.

A Myanmar National Airlines ATR 72-600 has sustained damage to several parts of the fuselage on 20 February, reportedly caused by a drone attack while the aircraft was parked at Myitkyina airport. A statement from Myanmar's Ministry of Information says that the aircraft came under attack around 20:12 while it was preparing to operate a scheduled flight to Mandalay, which it blamed on two "terrorist groups using FPV suicide drones". Pictures carried on Myanmar news websites indicate that at least one of the drones struck the rear fuselage, just below the vertical stabiliser and to the aft of the passenger door. Other damage is shown to the middle of the fuselage and the windscreen. The aircraft involved bears registration XY-AMI. Fleets data shows that the aircraft, MSN 1368, is nearly 10 years old and has been operated by the carrier since new. DAE Capital is listed as the manager and owner, having purchased it in a sale-and-leaseback transaction on delivery.