Private jet service Flexjet is planning to merge with Todd Boehly’s blank-check firm Horizon Acquisition Corp. II, it said on Tuesday, in a deal that will value the combined company at $3.1 billion, including debt...
Aviation
Tata, Singapore Airlines may merge Vistara, Air India
The Tata group and Singapore Airlines Ltd are working on merging their airline businesses Air India and Vistara and housing them under a new joint venture, two people aware of the development said, as they aim to...
Tatas could offer SIA a stake for AI-Vistara merger
Tata Sons is likely to offer a stake in Air India to Singapore Airlines (SIA), as part of the negotiations to merge their joint venture carrier, Vistara, with Air India, top executives close to the matter said. SIA...
Tatas evaluating options to consolidate AirAsia India, Vistara under AI
The Tata Group has started an exercise to evaluate options to consolidate AirAsia India and Vistara under Air India to bring operational synergies among the three airlines under its umbrella, sources said. Air India...
Kuehne raises Lufthansa stake to 17.5% as Germany sells remaining shares
Logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 17.5%, Kuehne Holding said on Wednesday, after the German government sold all its remaining shares in the airline. “This...
InterGlobe Aviation dips 5% on news of partial stake sale by Rakesh Gangwal
Shares of InterGlobe Aviation dropped 5 per cent to Rs 1,885 on the National Stock Exchange (NSE) in Thursday’s intra-day trade, after nearly 5 per cent of the airline’s total equity changed hands via block deals...
Tata Sons plans to raise $4 bn for Air India
Tata Sons Ltd, the holding company of the Tata group, plans to raise as much as $4 billion to infuse fresh capital into Air India and refinance costly debt, two people directly aware of the matter said. Tata plans to...
GMR Group to divest stake in Philippines’ Cebu airport; to receive Rs 1,330 cr upfront payment
GMR Group on Friday said it will divest its entire 40 per cent stake in Cebu international airport in Philippines for an upfront payment of Rs 1,330 crore as well as earnouts to be received over a period of more than...
SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh
SpiceJet is exploring multiple options, including a stake sale to other airlines, to raise up to Rs 2,000 crore so that it remains a “strong and vibrant” carrier, its chairman and managing director, Ajay Singh, said on...
Singapore court dismisses Bharat Forge’s petition against Bombardier
A Singapore court has dismissed Bharat Forge’s case against Bombardier, two years after the Indian auto component giant dragged the Canadian plane maker to court over alleged faulty parts in an aircraft. Bharat...
SpiceJet’s Ajay Singh in talks with Middle Eastern carrier, Indian co for partial stake sale
SpiceJet promoter Ajay Singh is exploring a partial stake sale in the cash-strapped carrier and is in talks with a Middle Eastern carrier and a big Indian conglomerate as the company needs recapitalisation urgently to...
JetBlue wins Spirit takeover battle with $3.8 billion deal
JetBlue Airways Corp prevailed in a months’ long bidding war for Spirit Airlines Inc after the ultra-low-cost carrier accepted its $3.8 billion buyout deal. The New York-based airline clinched the deal a day after...
