US's iAero Airways adjusts bulk ACMI plans

US's iAero Group files for Chapter 11 with DIP financing

iAero Airways (WQ, Greensboro) parent iAero Group Parent LLC has filed for voluntary Chapter 11 bankruptcy protection in the US Bankruptcy Court of the Southern District of Florida (Miami Division) but will continue operations within senior lenders agreeing to debtor-in-possession (DIP) financing of about USD22.5 million.

The B2B passenger charter and cargo carrier, formerly known as Swift Air (United States of America), on September 19 said the move will allow the implementation of a restructuring plan and ensure the group's long-term viability. The company has the support of its senior secured lenders in the form of an approved restructuring support agreement and a commitment for a senior secured super-priority delayed draw DIP financing credit facility in an aggregate amount of up to USD22,503,876.

iAero intends to maintain normal operations throughout the process, including continuing all customer flights as scheduled.

"After careful consideration, our board determined it was necessary to take this step now to address our financial strength and restructure certain of our contractual relationships and legacy balance sheet liabilities. We believe this...

UK’s Jet2 to wet-lease B737s from Czechia’s Smartwings

Ecuador's TAAE to add B737-800 freighter

US's iAero Airways wet-leasing four B737-800s

iAero Airways (WQ, Greensboro) has wet-leased four B737-800s from SunExpress (XQ, Antalya) to operate winter charters out of its Miami International base, Aviation Week has reported.

The Turkish carrier, a joint venture of Lufthansa and Turkish Airlines, operates fifty-four B737-800s, including thirteen under a long-term ACMI agreement with its Turkish parent company (which is due to end at the end of 2022). None of the aircraft has been ferried to the United States so far.

While SunExpress operates a mix of domestic and international charter and scheduled flights, its network is geared towards leisure traffic. As such, it has spare aircraft during the low winter seasons.

The carrier did not respond to ch-aviation's query regarding when the contract's exact duration. However, US government records show the requested consent period runs from December 15 to April 15, 2023. But, the application is still listed as pending.

The ch-aviation fleets advanced module shows that iAero Airways operates a diverse fleet of Boeing jets, including eight B737-300...