The government has decided to go ahead with the process to divest stake in Air India and is discussing proposals to further sweeten the deal for prospective bidders by allowing some relaxations along the bidding process...
Govt weighs dropping debt condition in Air India sale: Report
India is proposing to drop a condition that the winning bidder for Air India Ltd. will have to take on $3.3 billion of aircraft debt, people with knowledge of the matter said, as the government struggles to sell the...
U.S. bankruptcy judge rejects LATAM Airlines proposed $2.4 billion financing deal
A U.S. bankruptcy judge on Thursday rejected a $2.4 billion financing plan for struggling LATAM Airlines on the grounds that a convertible loan included as part of the package would amount to “improper”...
IndiGo’s plan to raise ₹4,000 cr depends on sales revenue pick-up: CEO
IndiGo’s plan to raise up to ₹4,000 crore through a qualified institutional placement (QIP) depends on the sales revenue pick-up in the coming days, its CEO Ronojoy Dutta said on Friday. “At this point in...
Virgin Australia creditors approve airline’s purchase by Bain Capital
Virgin Australia Holdings Ltd’s creditors voted on Friday in favour of the purchase of Australia’s second-biggest airline by U.S. private equity group Bain Capital, administrator Deloitte said, paving the way for a...
U.S. judge approves recognition of Virgin Atlantic’s rescue deal
A U.S. bankruptcy judge on Thursday granted recognition of Virgin Atlantic’s rescue plan under Chapter 15 of the U.S. Bankruptcy Code, which allows a foreign debtor to shield assets from creditors in the United States...
Adani group to acquire controlling interest in Mumbai airport
Adani Airport Holdings Limited (AAHL), the holding company of Adani Group for its airport business and a subsidiary of Adani Enterprises Limited) has entered into an agreement to acquire the debt of GVK Airport...
Investors send notice to GVK & lenders, say Mumbai airport sale to Adani would be a breach of contract
The investor consortium of Abu Dhabi Investment Authority (ADIA), Canada’s Public Sector Pension (PSP) Investments and India’s National Investment & Infrastructure Fund (NIIF) has put key lenders and vice-chairman...
AirAsia India partners with Avis to offer passengers car rental services
AirAsia India on Friday said it has partnered with Avis India to offer its flyers discounted car rental services. Through this partnership, AirAsia India passengers can use the services of the car rental company in 14...
Govt extends deadline for Air India bid for fourth time, gives bidders two more months
The government has extended the deadline for submitting expressions of interest in stake sale of Air India by two months to October 30, while intimation to qualified bidders will be done by November 20. The fourth...
Kerala bid was 20% below Adani’s for Thiruvananthapuram airport: Puri
Union Civil Aviation Minister Hardeep S Puri on Friday hit back at the Kerala government for objecting to the Centre’s decision to privatise Thiruvananthapuram airport. He said Kerala’s bid was 20 per cent lower than...
Deadline for completion of Jet Airways insolvency resolution to be extended beyond 21 August
The deadline for completion of Jet Airways (India) Ltd’s insolvency resolution process, which was earlier extended till 21 August due to the nationwide lockdown to contain the spread of the covid-19 virus, will be...
