American Airlines’ predictions for a strong Q4 of FY2022 came true, as it produced a good final three months with an $803 million net profit for the December quarter. But the full-year profit of $127 million has been affected by the difficult start and high...
Sri Lanka’s national carrier, SriLankan Airlines, has no plans for an expansion into the United States and Canada but plans to connect through its oneworld partners to London, Frankfurt, and Tokyo, Ashok Pathirage, the airline’s chairman said. He also discussed the...
Garuda Indonesia plans to issue $800 million in new debt and raise $330 in fresh equity. This is part of the restructuring plan that has been presented to a court in Jakarta on June 9. Creditors of the troubled airline will vote on the plan on June 15. Garuda plans to...
UPDATE – SAS is seeking to raise at least SEK 9.5 billion in new equity capital and convert SEK 20 billion in debt and bonds into common shares as part of its FORWARD transformation plan. The capital raise was announced on May 30 during an update of the plan and...
Financially troubled Garuda Indonesia has secured a court order granting the carrier a short-term reprieve from making debt payments. The 9 December ruling by a commercial court comes after an IT solutions provider, Mitra Buana Koorporindo (MBK), filed a debt petition...
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