IAG, the parent of British Airways and Spain’s Iberia, is close an agreement to halve the price of its planned 1 billion euro ($1.17 billion) acquisition of Spanish rival Air Europa, newspaper Cinco Dias reported on...
Aviation
Jet Airways gets bids from two entities
Jet Airways (India) Ltd has received resolution plans from two of the four potential bidders that were shortlisted to revive the bankrupt airline, a person with direct knowledge of the matter said. A bid was received...
British Airways-owner IAG boosted by 750 million pounds deal with American Express
British Airways owner International Airlines Group said American Express would pay it 750 million pounds ($955 million) to renew their partnership, providing a welcome boost to the airline’s finances at a time when it...
South Korea’s Jeju Air says scraps deal to acquire budget carrier Eastar Jet
South Korea’s top budget carrier Jeju Air Co Ltd said on Thursday it decided to scrap a deal agreed in principle to take over smaller Korean peer Eastar Jet, after the industry was hit by air travel slump amid the...
SpiceJet acqui-hires ixigo’s airline tech arm
Low-cost airline and air cargo operator SpiceJet has aqui-hired Bengaluru-based airline technology firm Travenues, owned by online travel aggregator ixigo. As part of the deal, SpiceJet will hold the licence for...
Virgin Atlantic agrees $1.5 billion rescue deal
Virgin Atlantic has agreed a rescue deal with shareholders and creditors worth 1.2 billion pounds ($1.5 billion) to secure its future beyond the coronavirus crisis, the British airline said on Tuesday. The private-only...
European Commission agrees to €3.4 billion bailout of Dutch airline KLM
The European Commission on Monday said it had approved the 3.4 billion euros ($3.85 billion) bailout package promised by the Dutch government to airline KLM last month. After months of wrangling with France over the...
Tata group mulls exit from JV with AirAsia as sector faces turbulence
Tata Sons Ltd is plotting an exit from loss-making AirAsia India where it holds a majority stake, said two people with direct knowledge of the matter. Tata Sons, the holding company of the Tata group, has a 51% stake in...
Tata Sons in talks to buy out AirAsia India stake at steep discount: report
Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd’s stake in their airline joint venture in India at a steep discount, the Business Standard newspaper reported on Thursday, citing banking...
GMR completes stake sale in airport biz to Groupe ADP, gets Rs 4,565 cr
France’s Groupe ADP has infused Rs 4,565 crore, which is the second tranche of investment, in GMR Airports Limited (GAL) to conclude its deal to purchase a total of 49 per cent shareholding in the company, said an...
AirAsia weighs raising $234 million via rights issue
AirAsia Group Bhd. is considering raising about 1 billion ringgit ($234 million) through a rights issue after an external auditor raised concerns about its viability, according to a person with knowledge of the matter...
Virgin Australia bondholders seek permission to put forward sale alternative
Virgin Australia Holdings Ltd bondholders have applied to the Takeovers Panel for approval to allow them to make an alternative proposal to creditors for the sale of the airline to private equity group Bain Capital, the...
