South America’s Synergy Group Corp is planning to pick up 49 per cent stake in Jet Airways. It will discuss co-investment options with its lenders and infrastructure companies, the group’s advisor told Business Standard...
Virgin Australia to merge units, cut jobs as it swings to FY loss
Virgin Australia Holdings VAH.AH said on Wednesday it would merge three of its business divisions and cut 750 jobs, in a turnaround bid after swinging to an annual underlying loss due to higher fuel prices and a weaker...
Air Canada’s planned Transat acquisition requires additional scrutiny: minister
Air Canada’s planned acquisition of Transat AT raises issues of public interest and will require additional scrutiny, including the impact on airline competition, before it can be approved, Canada’s transport minister...
Jet lenders extend deadline for expressions of interest, again
The resolution professional (RP) and the committee of creditors appointed for Jet Airways has for the second time decided to extend the deadline for expressions of interest to August 31, said two people close to the...
South America’s Synergy Evinces interest in Jet Airways
Synergy Group Corp., a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of...
Jet Airways crisis: Lenders to discuss bids, interim funding today
Jet Airways lenders will meet on Monday to consider an expression of interest (EoI) from an overseas airline and release of interim funds to the airline. In the earlier meetings, the committee of creditors (CoC) had...
Struggling Norwegian Air gets a lift from bank stake sale
Norwegian Air has agreed to sell its stake in banking company Norwegian Finans Holding for 2.22 billion crowns ($246.7 million), boosting the loss-making airline’s finances and sending its shares sharply higher on...
Quebec’s Peladeau to vote against Air Canada’s Transat bid, mulls offer
Quebec businessman and former politician Pierre Karl Peladeau said on Monday he will vote against Air Canada’s offer to buy tour operator Transat AT, and would consider making a separate offer with partners if the deal...
Khazanah injects $72 million in Malaysia Airlines as it considers offers
Malaysian sovereign wealth fund Khazanah Nasional Bhd said on Monday it had pumped another 300 million ringgit ($72 million) into Malaysia Airlines to keep the national carrier afloat as it considers offers for the...
South Korean activist fund KCGI eyes stake in Asiana Airlines
South Korea’s activist fund KCGI, the second-largest shareholder in the parent company of Korean Air Lines Co Ltd, is interested in buying a controlling stake in rival carrier Asiana Airlines Inc, KCGI Chief Executive...
Government seeks bids for Pawan Hans by 22 August
The government has initiated the second step for disinvestment of Pawan Hans Limited (PHL), inviting expression of interest from the prospective bidders to sell its stake in the helicopter PSU. The Centre is planning to...
Jet Airways sale suffers setback as two potential investors back out
Creditors’ hopes of resurrecting India’s Jet Airways and salvaging some value from the bankrupt airline were dealt a fresh blow on Monday as two potential investors said they were no longer interested in putting money...
