Brazilian airline Gol said on Monday it had struck a deal with investors in which they would purchase up to $1.25 billion in debt instruments, a key step toward the carrier’s exit from Chapter 11 bankruptcy...
SpiceJet faces fresh insolvency plea amid mounting legal battles
Budget carrier SpiceJet is facing fresh insolvency proceedings, this time from Indonesia’s PT BBN Airlines over unpaid lease rentals totalling $5.94 million. The National Company Law Tribunal (NCLT), Delhi bench, heard...
Air France-KLM in ongoing talks with Air Europa on potential stake, CEO says
Air France-KLM is in talks to take a stake in Spanish airline Air Europa and is looking to boost its existing holding in Scandinavian carrier SAS to a majority, CEO Ben Smith told Reuters on Tuesday. “We’ve...
Promoter Ajay Singh sells nearly 1% stake in SpiceJet for Rs 52 crore
Ajay Singh, one of the promoters and MD of SpiceJet, on Thursday divested nearly 1 per cent stake in the budget airline for Rs 52 crore through an open market transaction. According to the bulk deal data on the BSE...
Premji Invest, Ranjan Pai family office seek CCI nod to acquire stakes in Akasa Air
Tech tycoon Azim Premji’s global investment arm, Manipal Group Chief Ranjan Pai’s family office and 360 ONE Asset have sought approval from fair trade regulator CCI to acquire stakes in domestic carrier...
Spirit Airlines gets court approval for $795 million debt deal
A U.S. bankruptcy judge on Thursday approved Spirit Airlines’ debt restructuring, clearing the budget airline to convert $795 million in debt to equity and emerge from bankruptcy as a private company. U.S...
Spirit Airlines rejects acquisition offer from Frontier Group again
Spirit Airlines on Tuesday rejected Frontier Group’s acquisition offer, worth about $2.16 billion, saying the bid from its fellow ultra-low-cost carrier was less beneficial to shareholders than its ongoing...
Go First acquisition: NCLAT asks Busy Bee Airways to negotiate deal with lenders
The National Company Law Appellate Tribunal (NCLAT) has asked Busy Bee Airways, a bidder for bankrupt airline Go First, to approach the airline’s lenders and negotiate a deal to acquire the airline as a going concern...
Frontier revives merger talks with Spirit Airlines
Spirit Airlines and rival Frontier Group are discussing a merger again, more than two years after the two ultra-low-cost carriers failed to close a deal. On Wednesday, the companies revealed their discussions in a...
Busy Bee Airways challenges liquidation of Go First in NCLAT
Busy Bee Airways Pvt Ltd, one of the bidders for the grounded airline Go First, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge the airline’s liquidation. On 20 January the National...
NCLT ends Go First’s turbulent ride, steers co into liquidation
The bankruptcy court in Delhi on Monday admitted Go Airlines (India) Ltd, which runs Go First airline, into liquidation after the lenders failed to receive a viable revival plan for the company. The company has admitted...
Malaysia Airports buyout offer extended to Feb. 4
A takeover offer for Malaysia Airports Holdings by a consortium comprising the country’s sovereign wealth fund and BlackRock has been extended for a third time this month to Feb. 4, a stock exchange filing on...
