ARC NEWS
Jettime owner makes bid to acquire CityJet
August 14, 2025
Jettime owner Lars Thuesen is seeking to take over CityJet. In a statement, the Danish entrepreneur says a company he owns is in the process of "possibly" signing an investment agreement with the examiners that have been running CityJet since its application for creditor protection in May. "If the scheme that the examiners will put forward to the court in Dublin is approved by the court, then I will become the new majority-owner of CityJet, subject to relevant competition clearance," he states. "I am excited to get this opportunity to help re-establish CityJet as a strong and profitable northern European regional ACMI provider serving the 70-to-100-seater jet-market." Thuesen emphasises that this investment does not involve Jettime, noting that the two airlines operate "very different business models and with different aircraft types". The investment in CityJet is based on a "standalone model", he adds. The entrepreneur has been involved with several airlines in northern Europe over recent years. In October 2024, he made a bid to take over Nordic Aviation Group, but he withdrew his interest a month later. In April 2017, he acquired a 20% Air Baltic stake previously held by Ralf-Dieter Montag-Girmes. The Latvian carrier's website shows that Thuesen remains on its supervisory board and retains a 2.03% stake. Cirium fleets data shows that CityJet leases or sub-leases 15 MHIRJ CRJ900s to SAS, and sub-leases five CRJ1000s to Lufthansa. All five of the CRJ1000s and three of the CRJ900s are leased from Regional One. Six of the CRJ900s are leased from Falko. CityJet is listed as the operator of a stored CRJ900 that is leased from Falko, and as operator, manager and owner of another three CRJ900s in storage.


Hawaiian Airlines to suspend Fukuoka, Incheon and Boston routes
August 14, 2025
Hawaiian Airlines will suspend services from Honolulu to Seoul Incheon, Fukuoka and Boston during November to allow it to boost capacity onto other services to Sydney, Papeete, Los Angeles and Seattle. The airline's chief executive Joe Sprague says in a 12 August statement that the decision to suspend the routes was difficuilt, but it has been dealing with "soft post-pandemic travel demand from Asia combined with various market challenges". Hawaiian will operate its last flights from Fukuoka and Boston to Honolulu on 19 November and from Incheon to Honolulu on 21 November. "We remain committed to continuing to provide robust Hawaiian Airlines service between Asia and Hawai'i through our nonstop Japan flights, and via one-stop connections to and from Incheon and beyond with our global partner airlines. These adjustments will ensure we are meeting strong demand for travel to Hawai'i – both internationally and domestically – while providing all our guests access to more destinations," he adds. Schedules data shows that the Incheon services operate five times per week, Fukuoka thrice weekly and Boston four times weekly. The capacity redeployed from those routes will be used to operate previously announced frequency increases on the Sydney, Los Angeles and Seattle to meet peak demand between November and April, as well as boosting Honolulu-Papeete from once to twice weekly from March; Hawaiian will also launch nonstop flights five times a week between Seattle and Incheon on 12 September. It further notes that between Honolulu and Boston, passengers can connect daily on Alaska Airlines' flights via Seattle, Portland, San Francisco and San Diego. In September 2024, Alaska completed its acquisition of Hawaiian Airlines.


Spirit Airlines casts doubt on future as a going concern
August 13, 2025
Spirit Airlines has warned that within the next 12 months it may be unable to operate "as a going concern", citing uncertainty about its ability to comply with minimum liquidity covenants. The US carrier emerged from its Chapter 11 restructuring process on 12 March. In an 11 August filing to the US Securities and Exchange Commission, Spirit notes that a surplus of domestic capacity and "continued weak demand for domestic leisure travel" in the second quarter have led to a "challenging pricing environment" and "uncertainties in its business operations". It expects these conditions to persist throughout the year. Dania Beach, Florida-based Spirit also highlights that minimum liquidity covenants in its debt obligations and credit-card processing agreement require financial results to improve at a faster rate than it expects to achieve. It says it may sell certain aircraft, real estate and excess airport gate capacity to raise liquidity. "If these initiatives are unsuccessful, management believes it is probable that the company will be unable to comply with the minimum liquidity covenants under the company's debt obligations and credit-card processing agreement at some point in the next 12 months, which would result in an event of default," Spirit adds. In the second quarter, it made an operating loss of $184 million, deepening a $153 million loss in 2024's second quarter.


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