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Cash-Strapped El Al Israel Airlines Raises $148 Million

WIL BALDWIN September 17, 2020

TEL AVIV, Sept 16 (Reuters) - Cash-strapped El Al Israel Airlines raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package. In a regulatory filing…

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Virgin Atlantic Airline Files for US Bankruptcy Protection

WIL BALDWIN August 6, 2020

NEW YORK — Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in U.S. bankruptcy court as it tries to survive the virus pandemic that is hammering the airline industry. The airline made the Chapter 15…

Avianca Files for Bankruptcy Protection

WIL BALDWIN May 11, 2020May 11, 2020

(Reuters) - Avianca Holdings, Latin America's second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia's government have so far been unsuccessful.…

Norwegian Air Shareholders Vote in Favor of Rescue Plan

WIL BALDWIN May 4, 2020May 4, 2020

OSLO (Reuters) - Norwegian Air <NAS.OL> shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more…

Norwegian Air Could Run Out of Cash Unless Debt Plan Approved

WIL BALDWIN April 27, 2020April 27, 2020

OSLO (Reuters) - Norwegian Air <NAS.OL> could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday. If approved by bondholders,…

Alaska’s RavnAir Files for Bankruptcy as U.S. Treasury Mulls Grants

WIL BALDWIN April 7, 2020April 7, 2020

WASHINGTON, April 6 (Reuters) - RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government…

Delta CFO Paul Jacobson to Retire After 23-year Career

WIL BALDWIN February 29, 2020

Jacobson, who was named the airline industry’s best CFO eight times, will remain at Delta while a successor is named and throughout the transition. Paul Jacobson, Delta’s Chief Financial Officer, is retiring after a remarkable…

Air Italy Bites The Dust

WIL BALDWIN February 11, 2020

In an unexpected move, Air Italy decided to cut its loses and shut down…effective immediately. This is a very sad day for a very special carrier. Investors accelerated an emergency meeting, originally scheduled for February…

Jet Airways to Sell Netherlands Business to KLM

WIL BALDWIN January 16, 2020January 16, 2020

A Jet Airways vehicle leaves the company's headquarters in Mumbai BENGALURU (Reuters) - Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM. If the…

Fiat Chrysler, Peugeot Owner PSA Once Again in Talks to Combine

WIL BALDWIN October 29, 2019

(Reuters) - Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion (£38.88 billion) automaker, a source familiar with the matter said on Tuesday. Fiat…