Asiana Airline’s lead creditor bank called for backing for Korean Air’s takeover of the debt-ridden Korean carrier on Thursday in the face of opposition to the plan from some shareholders. Activist fund...
Aviation
Low-cost Norwegian Air Shuttle files for bankruptcy protection
Low-cost carrier Norwegian Air Shuttle filed for bankruptcy protection in Ireland on Wednesday for two of its main subsidiaries in a bid to shield itself from creditors long enough to find a solution for a financial...
Jet submits revival plan to NCLT
The resolution professional of Jet Airways has submitted the revival plan approved by the committee of creditors to the National Company Law Tribunal (NCLT), according to a stock exchange notification on Thursday. Once...
IAG says still interested in buying Spain’s Air Europa
The new chief executive of British Airways-owner IAG said the group continues to want to acquire Spanish airline Air Europa but is waiting to see what sort of support package the target company receives from the Spanish...
Air India bidding to be on enterprise value, deadline extended till Dec 14
The government has changed a bidding parameter for state-owned airline Air India, allowing potential buyers to quote enterprise value instead of equity value. Simultaneously, the deadline for submitting bids has been...
AirAsia X to revise $15.3 billion debt reform plan to expedite talks with creditors, say sources
Malaysia’s AirAsia X Bhd plans to revise its $15.3 billion debt restructuring plan to address concerns raised by a creditor as its cash is running out fast, people with direct knowledge of the matter said. The...
U.S. tentatively approves Delta, WestJet alliance
The U.S. Transportation Department said on Friday it had tentatively approved a proposed alliance agreement between Delta Air Lines and Canada’s WestJet that is expected to expand travel options between the United...
Potential owners of Jet Airways are looking at a 90% plus stake, offer remnants to lenders
The proposed resolution plan for Jet Airways would give the new owners more than 90% stake in the grounded airline with the rest going to its lenders, the resolution professional appointed by the bankruptcy court told...
Air India bid deadline may be extended till Dec 15, govt to ease asset valuation norm
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is...
Kerala HC upholds Adani airport deal
The Kerala high court on Monday allowed billionaire Gautam Adani to operate the airport in state capital Thiruvananthapuram, rejecting the state government’s contention that the privatization was not in the public...
Relief for Jet staff as lenders give nod to resolution plan
Employees of Jet Airways (India) Ltd breathed a sigh of relief after the committee of creditors of Jet Airways approved a revival plan for the airline submitted by a consortium consisting of Kalrock Capital and Murari...
Lenders’ voting on Jet Airways’s resolution plan extended to Saturday
Jet Airways has extended the deadline for voting on resolution plans to Saturday, according to the airline’s resolution professional Ashish Chhawchcharia. Only half the lenders have submitted their votes and the...
