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…
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…
The parent company of Japanese carrier All Nippon Airways (ANA), ANA Holdings, plans to issue nearly ¥150 billion worth of bonds. Proceeds will be used to support its business structure reform plan announced in October 2020, redeeming maturing bonds, and…
AirAsia X has hit out at critics in a strongly-worded statement, after creditors to the long-haul, low-cost carrier overwhelmingly approved a debt restructuring plan. The carrier’s 12 November statement, desrcribed the restructuring as a “wide and deep reset,” and is…
Malaysia’s AirAsia X (AAX) is proposing to pay around 0.5 percent of the debt owed to its creditors, and to terminate all existing contracts in order to allow the long-haul low-cost carrier to restructure its liabilities, reports Reuters, citing a document…
There is a ray of hope for one of the beleaguered African carriers. South African Airways is preparing to emerge from its self-inflicted collapse. The crisis-ridden airline is said to be preparing for a return to service by first operating…