The administrators of Air Mauritius have secured a further postponement to the deadline for presenting a plan of reorganisation to the carrier's creditors. In a stock market disclosure on 8 June, administrators Grant Thornton say they have gained supreme court clearance to hold the watershed meeting no later than 31 January 2022. The administrators Sattar Hajee Abdoula and Arvindsingh Gokhool had previously had until 30 June to present the plan, itself a postponement from an original deadline of December 2020. Grant Thornton says discussions are under way to finalise the "financial means" and the "structural reforms" to be implemented at the flag carrier. Abdoula says the administrators final proposals will depend "greatly on the support funding" that the future backers of Air Mauriritus are prepared to invest in the carrier. "Discussions were initiated and we hope that the necessary arbitrations will be made quickly,", Abdoula adds. The island-based carrier filed for voluntary administration in April 2020.

Airbus plans to raise production of A320 family aircraft to 45 units per month by the end of 2021 and 60 in spring 2023, according to Airbus chief executive Guillaume Faury. Speaking to the Airlines for Europe annual summit, Faury comments that the manufacturer is looking to boost production rates to reflect reduced deliveries through the crisis, with airlines looking to restart the renewal of their fleets as the recovery takes hold. Airbus was producing roughly 60 A320 family jets before the crisis hit, with Faury continuing that the manufacturer would return to these rates "three years after the start of the pandemic". The French OEM is currently producing 40 a month. He notes that in contrast to the steady demand for short and medium haul aircraft, for widebodies it is a matter of "lower for longer", as intercontinental travel remains stymied by travel restrictions. In response to a question about how the manufacturer is looking to develop its product offering in the years to come, Faury responds that "the evolution will be on those existing platforms", adding that they are "more looking at how to evolve those platforms." He continues that Airbus is "seriously working" on longer-term aircraft solutions, including hydrogen – with an expectation that the first hydrogen-powered aircraft would enter service by 2035. "The speed at which things are changing at the moment, I am more and more optimistic every day", he adds.

Avation has boosted its liquidity and reduced indebtedness since the end of last year, and is reporting increased interest in the eight ex-Virgin Australia ATR aircraft it is attempting to remarket. The Singapore-based lessor says in a 9 June trading update that its total cash balance, including restricted cash, had grown to $122 million by 31 March, from $118 million at the end of December, following an "improvement in cash flow" in the intervening quarter. Net indebtedness fell to $988 million from $1.04 billion. "The executive team have worked tirelessly with the airline customers to manage the collection of revenue as well as remarketing returned aircraft," states Avation executive chairman Jeff Chatfield. "Rent collections have improved compared with the prior half-year." He adds: "Management is optimistic that as the pandemic recedes, the company will be well situated to take advantage of the recovery in the airline industry." At 31 March, Avation's fleet totalled 45 aircraft, three of which are unencumbered. The aircraft have a weighted average age of 4.8 years and a weighted average remaining lease term of 6.4 years. The total future minimum lease payments under non-cancellable leases was about $749 million at the end of March, says the lessor. In the quarter ended 31 March, Avation saw an improvement in cash collection, achieving an overall cash-collection rate of 71% – up from 64% in the six months to 31 December. To date, the London-listed lessor has agreed lease deferrals totalling $25.9 million of rent with 14 of its 19 airline customers. It says the impact on cash flow has been mitigated by secured lenders agreeing to reschedule $32.7 million of loan amortisation payments. Avation is "actively remarketing" eight ATRs that were formerly on lease to Virgin Australia, and says it has seen "an increase in interest for these aircraft recently". The turboprops are available for sale or lease. The lessor expects to receive a distribution from its $73 million claim against Virgin Australia over the comings months. The airline's administrators have advised an expected distribution of 9.5-13 cents per dollar for unsecured claims. Another troubled Avation customer, Philippine Airlines, is set to enter restructuring "in the coming weeks", says the lessor. PAL leases a Boeing 777-300ER from Avation and has proposed retaining the aircraft at a lower fixed rent. Davy Group says in a research note that Avation's financials are "in recovery mode", pointing to improving cash collection and liquidity. "There is more work to be done on the capital structure for Avation to capitalise on the post-Covid opportunities, but some core strength is returning," says Davy. While the lessor's "most significant outstanding uncertainties remain", Davy adds that they are "closer to their conclusions and are largely captured in the company's financials". Avation slipped to a $60.5 million loss in the six months ended 31 December, from a $45.2 million profit in the same period a year earlier. The company expects to release its full-year results on 30 September.