The government is moving ahead with Air India strategic sale and is expected to ask suitors to bid based on the combined equity and debt value, while turning down suggestions to either run the operations for next two...
Aviation
Hedge fund Marshall Wace takes stake in British Airways-owner IAG
Marshall Wace has picked up a 3% stake in British Airways owner IAG, a Spanish regulatory filing from the hedge fund showed on Wednesday. IAG last month raised 2.7 billion euros ($3.2 billion) to reduce debt and ride...
Top shareholder in Air Canada, Transat calls revised buyout offer ‘reasonable’
The biggest shareholder in Air Canada and Transat A.T. Inc said on Tuesday that AC’s revised offer for the Canadian tour operator was “a very reasonable one,” given the turmoil in the aviation industry...
Jet Airways’ lenders to vote on resolution by 16 Oct
Lenders to Jet Airways have time till 16 October to vote on two proposals to revive the stressed airline. The deadline may get extended if banks fail to get internal approvals, according to a person familiar with the...
AirAsia X proposes $15 billion debt restructure to stave off liquidation
Malaysian budget airline AirAsia X Bhd (AAX), the long-haul arm of AirAsia Group Bhd, said it has proposed restructuring $15.3 billion of debt and reducing its share capital by 90% to continue as a going concern...
Tata eyes options on AirAsia’s exit
Tata Sons Ltd is considering various options on the future of its airline venture AirAsia India against the backdrop of its Malaysian partner planning to exit it, two people in the know said. This comes at a time when...
Japan’s ANA mulls 200 billion yen share offer: Nikkei
Japan’s biggest airline ANA Holdings is considering issuing 200 billion yen ($1.9 billion) in shares to bolster its finances as the downturn in air travel drags on, the Nikkei newspaper reported. “We do not...
Tata Group’s interest in Air India concerning for Vistara partner Singapore Airlines
Singapore Airlines (SIA), Tata group’s joint venture partner in Vistara, and Temasek, the Singaporean carrier’s majority shareholder, are believed to have voiced their misgivings to Tata Sons about its...
Government looks to sweeten Air India sale deal, discusses proposals for prospective bidders
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...
