The National Company Law Appellate Tribunal (NCLAT) has asked Busy Bee Airways, a bidder for bankrupt airline Go First, to approach the airline’s lenders and negotiate a deal to acquire the airline as a going concern...
Frontier revives merger talks with Spirit Airlines
Spirit Airlines and rival Frontier Group are discussing a merger again, more than two years after the two ultra-low-cost carriers failed to close a deal. On Wednesday, the companies revealed their discussions in a...
Busy Bee Airways challenges liquidation of Go First in NCLAT
Busy Bee Airways Pvt Ltd, one of the bidders for the grounded airline Go First, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge the airline’s liquidation. On 20 January the National...
NCLT ends Go First’s turbulent ride, steers co into liquidation
The bankruptcy court in Delhi on Monday admitted Go Airlines (India) Ltd, which runs Go First airline, into liquidation after the lenders failed to receive a viable revival plan for the company. The company has admitted...
Malaysia Airports buyout offer extended to Feb. 4
A takeover offer for Malaysia Airports Holdings by a consortium comprising the country’s sovereign wealth fund and BlackRock has been extended for a third time this month to Feb. 4, a stock exchange filing on...
Lufthansa to acquire stake in Italy’s ITA next week, source says
Lufthansa is set to acquire a stake in Italian state-owned airline ITA on Jan. 13, a source familiar with the situation told Reuters on Wednesday, bringing to a close years of talks. DPA news agency first reported on...
MIAL moves NCLT seeking clarity on Jet Airways’ aircraft sale to Ace Aviation
Mumbai International Airport Limited (MIAL), owned by the Adani group, has approached the National Company Law Tribunal (NCLT) in Mumbai seeking clarification on the validity of selling Jet Airways’ three grounded...
Korean Air completes Asiana takeover to form one of Asia’s biggest airlines
Korean Air has completed its protracted purchase of indebted South Korean rival Asiana Airlines, the airline said on Thursday, a major step towards forming one of Asia’s biggest carriers. The 1.8-trillion-won ($1...
Fraport to sell stake in St. Petersburg airport to Middle Eastern investor
German airport operator Fraport on Thursday said it is close to completing the sale of its 25% stake in St. Petersburg airport Pulkovo to Middle East-based investor Orbit Aviation LLC. The proceeds from the deal, which...
Fairfax India to buy 10% more in Bangalore airport
Fairfax India Holdings Corporation Tuesday said it is buying an additional 10% stake in Bangalore International Airport Ltd (BIAL) for $255 million (₹2,160 crore), entrenching its foothold in one of India’s...
Korean Air aims to complete protracted Asiana takeover next week
Korean Air expects to complete its drawn-out purchase of indebted South Korean rival Asiana Airlines next week, as long as U.S. anti-trust regulators do not object to the creation of one of Asia’s biggest carriers...
SpiceJet insolvency claims: Are creditors leveraging IBC forum for settlements?
India’s bankruptcy courts are indignant at being used by creditors as a tool to recover dues from companies that are not really bankrupt, and for wasting their time. On 19 November, judicial member Mahendra Khandelwal...
