FINANCE | Air Serbia eyes profitability in 2022
Air Serbia anticipates breaking even or registering a small profit in 2022 following two years of Covid-induced financial losses. “Air Serbia has performed relatively well during the pandemic. In 2021…
German government sells remaining Lufthansa shares
The German government has sold off its 20% stake in Lufthansa acquired during the coronavirus pandemic, it said on Tuesday. The state’s economic stabilisation fund (WSF), which saved Lufthansa from…
Air New Zealand reports a $725 million deficit
In keeping with the guidance given to the market in June, Air New Zealand reported Thursday (25 August) that the airline posted a loss before other major factors and taxation…
SAS secures $700 million financing to aid restructuring
Scandinavian airline SAS said on Saturday it entered into an agreement with Apollo Global Management to raise $700 million of fresh financing it needs to see it through bankruptcy. The…
Singapore Airlines swings to profit as passenger traffic improves
Singapore Airlines (SIA) swung to a first-quarter net profit of S$370 million ($268 million), it said on Thursday, after a fourteenfold increase in passenger traffic year on year thanks to…
German investor Kuehne boosts stake in Lufthansa to 15%
German logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 15% from 10%, Lufthansa said late on Wednesday, making him the biggest shareholder in the German flag carrier.…
Japan’s ANA expects to return to profitability this quarter
Japan’s ANA Holdings expects to return to profitability this quarter as demand for air travel recovers, its president, Koji Shibata, said on Thursday. The company is on track to meet…
LATAM Airlines seeks bankruptcy court approval for $2.75 billion in exit loans
LATAM Airlines Group SA, the largest air transport group in Latin America, on Monday asked a bankruptcy judge to approve $2.75 billion in new loans to fund the company’s exit…
Spirit shareholders should approve Frontier deal, Glass Lewis says
Shareholder advisory firm Glass Lewis on Friday recommended Spirit Airlines investors approve Frontier Group Holdings Inc’s $2.9 billion takeover bid, saying it was the “best available” at this time. The…
Air France-KLM launches 2.3 bln euro rights issue
Air France-KLM on Tuesday unveiled a 2.256-billion-euro ($2.41 billion) rights issue to existing shareholders to strengthen its balance sheet and further repay French state aid. The French and Dutch states…