Virgin Australia Holdings Ltd’s administrator said 19 parties interested in purchasing the airline had been granted access to a data room as of May 11 and non-binding indicative offers are due on May 15, according to an...
World’s second-oldest airline, Avianca, driven to bankruptcy by coronavirus
Avianca Holdings, Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia’s government have so far been...
IAG’s acquisition of Air Europa still ongoing, CEO says
The CEO of British Airways owner IAG said on Thursday the process for it to acquire Spanish airline Air Europa was ongoing, although he noted that the agreement between the pair did contain a price adjustment mechanism...
South Africa opposed to liquidation of national airline SAA – minister
South Africa does not want a fire sale of the assets of troubled national airline SAA nor for the carrier to be liquidated, Public Enterprises Minister Pravin Gordhan said on Wednesday. Gordhan told a parliamentary...
Lufthansa board hopeful of securing government bailout soon
Lufthansa is hopeful its bailout talks with the German government can be concluded soon, the airline’s board told staff in a letter seen by Reuters, adding that it is also considering alternatives such as creditor...
Norwegian Air gets bondholder deal on $1.2 billion debt-for-equity swap
Norwegian Air said on Sunday it had secured support from enough bondholders for a $1.2 billion debt-for-equity swap, a vital step in helping it survive the coronavirus crisis. The budget airline is poised to run out of...
Air Canada’s Transat buyout fuels investor coronavirus jitters – sources
Air Canada’s C$720 million ($517 million) purchase of tour operator Transat AT is fuelling jitters among some investors who would like to see the deal renegotiated with the aviation industry in turmoil due to COVID-19...
Embraer and Boeing’s $4.2 billion deal ruled out pandemic as pretext to cancel
Boeing Co’s recently aborted $4.2 billion agreement to buy the commercial jet-making operations of Brazil’s Embraer specifically forbade either party from calling it off because of a pandemic or a global economic...
Govt extends deadline to bid for Air India by two months till 30 June
The government has extended the deadline to bid for Air India by two months till June 30, as the Covid-19 fallout has disrupted economic activity globally. This is the second extension in the deadline to submit bids by...
Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up
Brazil’s Embraer SA said on Monday it had begun an arbitration process against Boeing Co, after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making. The deal’s...
Boeing, Embraer scrap $4.2 billion deal as jetliner market shrinks
Boeing Co. is walking away from its proposed $4.2 billion combinations with Embraer SA’s commercial-aircraft business, ending years of talks, as the planemakers brace for a far smaller jetliner market after the...
Brazil’s Embraer adjusting production after deal with Boeing collapses
Brazil planemaker Embraer SA said that after a $4.2 billion deal with Boeing Co fell apart over the weekend, it is working on adjusting production levels and capital expenditures, as well as working to preserve cash...
