Need for operational flexibility may test airlines’ stakeholders in restructurings

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Need for operational flexibility may test airlines’ stakeholders in restructurings

Journal of Corporate Renewal, the official publication of the Turnaround Management Association (TMA)

28 November 2022

Hogan Lovells Partner David Simonds and Counsel Faraz Naqvi, along with Jeremy Halford, formerly with Hogan Lovells, recently authored an article, “Need for Operational Flexibility May Test Airlines’ Stakeholders in Restructurings,” for the Journal of Corporate Renewal (JCR), the official publication of the Turnaround Management Association (TMA).

In the wake of the COVID-19 pandemic, the surviving airlines have accelerated cost-cutting efforts, curtailed capital expenditures, and reduced their fleets. Arguably, airlines are in a much stronger operational position to cope with volatile operating environments. However, the highly uncertain waves of future disruption facing the industry require airlines to be nimble and maintain significant liquidity to become more stable and profitable. As described in this article, the participation of key constituencies also will have significant positive or negative impacts on the outlook for airlines.

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