AIRLINE BANKRUPTCY
UK High Court refuses to release money for Vijay MallyaFugitive businessman Vijay Mallya has been denied access by a UK court to a significant chunk of his cash held by the UK court funds office...
- View: A guru and a tycoon feel India’s endless bank salvage pain
The state-dominated lending system’s aggregate balance sheet had a gaping hole even before Covid-19. Now things could turn uglier. The regu...
- UK court denies release of substantial funds for Vijay Mallya's legal fees
Judge Sebastian Prentis, who presided over a remote hearing at the Insolvency and Companies Court (ICC) of the High Court in London, conclu...
- Indian banks pursue UK bankruptcy order against Vijay Mallya
At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian ...
- As Covid hits physical stores, global retailers boost tech presence in India
Walmart’s tech arm in India has added 2,000 employees in its Bengaluru centre and 800 people in Chennai over the past year, taking total st...
- Condition to improve but more airline bankruptcies likely in 2021: Fitch
“Spiking coronavirus cases in various regions and inconsistent travel restrictions will keep airline traffic low at least through the first...
- Low-cost Norwegian Air Shuttle declares bankruptcy for two main units
"Seeking protection to reorganise under Irish law is a decision that we have taken to secure the future of Norwegian," the head of Europe's...
- Airlines are making money selling everything but tickets
With traffic down 73% from a year earlier in September — and international flights running at just 12% of their levels a year ago — the usu...
- World’s best-performing airline stock is bankrupt Indian carrier
Stock in Mumbai-listed Jet Airways India Ltd. has surged almost 150% this year versus a 42% plunge in the 27-member Bloomberg World Airline...
- These are the airlines teetering on the brink of Covid ruin, shows data from Z-score bankruptcy gauge
IATA, in a new analysis released last week, said total industry revenues next year are expected to be down 46% on 2019’s $838 billion. With...
- Boeing posts fourth straight quarterly loss as sales slump amid the pandemic
The company began a massive job-shedding campaign earlier this year and expects to cut 19,000 jobs by year-end out of the roughly 160,000 w...
- Dark deja vu for European economy as coronavirus cases spike
While the new restrictions are so far not as drastic as the near-total shutdown of public life imposed in the spring, they are kicking an e...
- Airlines warn of more bankruptcies as wage support ends
The call for increased support came as U.S. airlines begin furloughs of more than 32,000 workers amid fading hopes for a new federal bailou...
- Most RS Opposition members back amendments in Insolvency & Bankruptcy Code, some flag possible misuse
The Upper House passed by a voice vote the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020', whereby fresh insolvency proceedi...
- Virgin Australia airline to be sold to US-based Bain Capital
Virgin Australia's creditors agreed on Friday to sell the airline to Boston-based Bain Capital in a deal that will see the carrier cut 3,00...
- Virgin Atlantic airline files for United States bankruptcy protection
A spokeswoman for Virgin Atlantic said the bankruptcy filing is part of a court process in the United Kingdom to carry out a restructuring ...
- America's largest airline LATAM files for US bankruptcy protection
Latin America's largest airline LATAM filed for bankruptcy in the US on Tuesday, the company said in a statement, following a drastic slump...
- Virgin Australia airline seeks bankruptcy protection
Virgin's administrators have taken control of the company and will try to work out a way to save either the company or its business. The mo...
- Vijay Mallya gets bankruptcy reprieve from UK High Court
Justice Michael Briggs of the insolvency division of the High Court granted relief to Mallya, ruling that he should be given time till his ...
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