The government has extended the deadline to bid for Air India for the third time, till August 31, due to the Covid-19 pandemic which has impacted global economies. The last date for intimation to qualified Bidders has...
Aviation
AirAsia may have to take legal route to exit India JV
AirAsia’s reported move to sell its 49% stake in its Indian venture will face legal hurdles as agencies probing corruption and money laundering charges against its founder Tony Fernandes and former brass of AirAsia...
AirAsia may eventually exit India JV: Report
India and Japan are peripheral markets for Malaysian no-frills airline, Air Asia Berhad, which could at some point exit its Indian venture with the Tata Group, the carrier acknowledged, according to a recent report by...
Germany in Lufthansa bailout talks with key shareholder
The German government held talks with Lufthansa’s biggest shareholder on Monday to persuade him to accept the terms of a 9 billion euro ($10 billion) coronavirus bailout that it has offered the airline group. Finance...
American Airlines seeks $3.5 billion in new financing
American Airlines Group Inc said on Sunday it plans to secure $3.5 billion in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus. The company plans to...
EU regulators halt Air Canada, Transat anti-trust probe, await data
EU antitrust regulators have suspended their investigation into Air Canada’s bid for Canadian tour operator and carrier Transat AT Inc while waiting for the companies to provide data sought by the enforcers. The...
Lufthansa may sell Brussels Airlines or let it go bankrupt: report
Lufthansa could let its Belgian subsidiary Brussels Airlines go bankrupt or sell it, La Libre newspaper reported on Friday, citing anonymous sources at the airline. Brussels Airlines, which employs 4,200 people, said...
IAG airline Level Europe files for insolvency
Austrian short-haul budget carrier Level Europe plans to file for insolvency, it said on Thursday, becoming the latest airline casualty of the coronavirus crisis despite the financial might of parent IAG. The small...
NCLT allows Jet Airways to sell office in Bandra Kurla Complex
The NCLT has allowed Jet Airways to sell its premises in Bandra Kurla Complex (BKC) to settle Rs 360 crore dues of mortgage lender HDFC, clear overseas debt and cover corporate insolvency resolution process costs. Jet...
Czech-Hungarian joint venture buys military jet maker Aero Vodochody
Czech defence and security group Omnipol said on Thursday it had acquired domestic aircraft maker Aero Vodochody Aerospace in a joint venture with Hungarian businessman and former chief security adviser Andras Tombor...
Hyundai Development wants to renegotiate Asiana Airlines acquisition after debt surge
South Korea’s Hyundai Development Co said on Tuesday it wants new terms for its acquisition of Asiana Airlines after debt at the debt-ridden carrier increased by some $3.8 billion. The builder also called for state...
HNA’s Swissport says Belgium unit to file for bankruptcy
Swissport Belgium SA/NV, a loss-making unit of Swissport International AG which provides ground services at Brussels airport, will file for bankruptcy after attempts to turn around the business failed, Swissport said on...
