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Western Global Airlines LLC is weighing options including filing for bankruptcy as it faces dwindling liquidity, Bloomberg News reported. The cargo airline began confidential talks with some of its creditors related to its financing needs last month, Bloomberg previously reported. A final decision hasn’t been made, and the situation could change. A representative for Estero, Florida-based Western Global declined to comment. One of the smaller air cargo providers in the U.S., Western Global has been burning cash amid cooling demand. It’s been dealing with labor shortages that blocked the company from using certain routes to Asia, which led to soaring fuel costs, according to a March note from Moody’s Investors Service. The company had $400 million in aircraft assets and a fleet of 21 aircraft as of September, according to Moody’s. All of the airline’s assets, however, are encumbered, limiting its ability to raise new financing.

The judge overseeing FTX's U.S. bankruptcy said Thursday that he would not defer to a Bahamian court about key issues like which FTX entity should collect assets and repay customers of the bankrupt crypto exchange, Reuters reported. Liquidators for FTX Digital Markets, the exchange's Bahamas-based subsidiary, have asked U.S. Bankruptcy Judge John Dorsey to let them seek a ruling from the Bahamas Supreme Court that their company controlled FTX.com's crypto exchange for international customers. FTX's U.S. bankruptcy team seeks to block the Bahamas litigation, calling it a power grab that would derail the company's ongoing efforts to repay customers. Judge Dorsey questioned the value of a Bahamian court ruling during a Thursday court hearing in Wilmington, Delaware, saying that he would retain authority over the $7 billion in assets recovered by the U.S. debtors no matter what the Bahamian court rules. Both courts would have to sign off before any assets transfer from the U.S. to the Bahamas, Judge Dorsey said. "It doesn't go to FTX Digital until I say it goes to FTX Digital," Judge Dorsey said. "So what are we gaining by having two parallel proceedings in two separate courts?" Chris Shore, an attorney for the Bahamian liquidators, said that a Bahamas court ruling would clarify each side's responsibilities and provide a framework for cooperation between the U.S. bankruptcy case and involuntary insolvency proceedings in the Bahamas.

Wejo, a Manchester, England-based company that deals in connected vehicle data, has filed a notice of intention to enter administration to save it from liquidation, InsideRadio.com reported. The company, whose largest shareholder is General Motors Ventures, says it does not expect the move to impact its operations or business, according to BusinessLive. Wejo has been supplying connected car data to at least one U.S. broadcaster and has been working on signing others as clients. In a pilot study with Capitol Broadcasting Company, Wejo supplies near real-time radio listening data from cars and trucks in the broadcaster’s North Carolina base to use in programming decisions and for sales purposes. Capitol Broadcasting Company is the owner of 13 radio stations in Raleigh-Durham and Wilmington, N.C. The data comes from in-car sensors in vehicles made in 2015 or later that transmit billions of data points to automakers. As of April, Wejo had deals with 28 car companies to access their data and said it expected to sign up more in the next 6-12 months.

SAS's rescue has moved a step closer after a U.S. court approved a revised plan from the Scandinavian airline to raise equity, Reuters reported. The long-suffering airline filed for chapter 11 protection last year. The court approval of the fundraising proposal — a key element of the "SAS Forward" rescue plan — means investors may start placing bids for a stake in the airline. An SAS spokesperson said that the new procedure reflected court concerns in April about a requirement for bidders to accept the participation of Denmark — the airline's biggest shareholder alongside Sweden — in the equity raising. "That formal requirement has been removed," she said. "But we are clearly stating that the Danish state's support is essential to succeed with SAS Forward and to emerge from the chapter 11 process." That fact would be taken into account when assessing other bids, she said, adding: "SAS' intention remains clear that we are doing this together with Denmark." In the updated plan, SAS said that without the support of Denmark the emergence from chapter 11 "will face significant uncertainty, cost, and delay."