India's Supreme Court has ordered Jet Airways into liquidation after the successful bidder for the company was found to have failed to meet the conditions of its resolution plan. The court made the order on 7 November after the State Bank of India and other lenders successfully appealed a March 2024 order from the National Company Law Appellate Tribunal that had upheld the transfer of Jet's ownership to the successful bidder, the Jalan Kalrock Consortium (JKC). In a 169-page written judgement, the three judges hearing the case state that the lower court's order was "perverse and unsustainable in law", and "keeping in mind the fact that almost five years have elapsed since the Resolution Plan was duly approved by the NCLAT and there being no progress worth the name, we are left with no other option but to...direct that the corporate debtor be taken in liquidation". JKC is led by UAE-based entrepreneur Murari Lal Jalan and alternate investment manager Kalrock, which is led by Belgian investor Florian Fritsch. The court found that the Consortium had not fulfilled a number of conditions precedent under the resolution plan, and as a result has forfeited Rs2 billion ($ million) how it had infused into Jet, while a further Rs1.5 billion performance bank guarantee will be encashed by its lenders. The court has now ordered the National Company Law Tribunal to appoint a liquidator to the failed airline. "Ensuring that liquidation commences as soon as possible would also be in the best interests of the Corporate Debtor and the creditors including the workmen/employees who are yet to receive their rightful dues," the judgement reads. The airline ceased operations in April 2019 following an intense period of competition in the Indian market.

Gol and parent Abra Group have agreed terms for a plan support agreement in connection with the Brazilian airline's US Chapter 11 bankruptcy-protection cases. Having in January filed for Chapter 11, the airline last month filed a motion with the US Bankruptcy Court for the Southern District of New York seeking an additional 150 days to file its plan for restructuring. Under terms of the reorganisation plan reached with Abra and certain affiliates and a committee of unsecured creditors, Gol will deleverage itself by converting into equity, or otherwise extinguishing, up to $1.7 billion of its pre-petition funded debt and up to $850 million of other obligations. Additionally, Abra "has asserted $2.8 billion in funded debt claims and has agreed to receive approximately $950 million in new equity and possibly more, based upon the resolution of certain unresolved issues, as well as $850 million of take-back debt," Gol and Abra say. Gol expects to raise up to $1.85 billion of new capital in the form of an exit facility to repay its debtor-in-possession financing facility and provide incremental liquidity to support its operations following its emergence from Chapter 11. "Reaching this agreement is another important step in our efforts to strengthen our financial position and drive Gol’s long-term success," states Gol chief executive Celso Ferrer. Abra Group chief executive Adrian Neuhauser adds: "Gol is slated to emerge from its Chapter 11 process with a dramatically improved liquidity position and a deleveraged balance sheet with a very competitive unit cost and strong network."

Flybondi will incorporate two Boeing 737-800 aircraft through a wet lease (ACMI) agreement, marking what it says is the first such arrangement in Argentina's aviation history. The carrier says the Spanish-registered aircraft will operate from November 2024 to March 2025, increasing the airline's operational capacity by 13%. This arrangement was made possible by recent reforms to Argentina's Aeronautical Code, allowing foreign crews and foreign-registered aircraft to operate commercial services and Flybondi plans to resume this model for the 2025/2026 summer season. Flybondi chief Mauricio Sana states: "The addition of these two aircraft will have an impact on greater connectivity, a proposal for increased flights and also creates new opportunities for development and direct and indirect employment. ACMI is a solution in a context where there is a shortage of both aircraft and pilots."