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bailout

US aviation unions ask Congress for another $32 billion bailout
Business 5 years ago

US aviation unions ask Congress for another $32 billion bailout

Six US unions representing aviation workers told top lawmakers on Thursday that another US$32 billion in payroll aid is needed to keep hundreds of thousands of workers employed through March 31, as a resurgence in coronavirus cases raises fears that air travel may not rebound this year.
German government moves to rescue Lufthansa bailout
Business 5 years ago

German government moves to rescue Lufthansa bailout

Lufthansa was plunged into crisis after efforts to contain the coronavirus pandemic brought air travel to a near standstill for several months, with the recovery expected to be slow.
Cathay Pacific unveils $5b bailout plan
Business 5 years ago

Cathay Pacific unveils $5b bailout plan

Like many carriers hammered by the crisis, the company has seen passenger numbers evaporate in recent months, leaving most of its fleet sitting on the tarmac and the firm haemorrhaging cash.
Garuda lays off 180 contract pilots
Business 5 years ago

Garuda lays off 180 contract pilots

The pilots, including senior and outsourced pilots working on a contract basis, have had their contracts terminated as the airline cuts back on flights, Garuda Pilot Association (APG) chairperson Muzaeni told The Jakarta Post on Tuesday.
Germany stamps authority on Lufthansa with $9.8 billion lifeline
Business 5 years ago

Germany stamps authority on Lufthansa with $9.8 billion lifeline

The largest German corporate rescue since the coronavirus crisis struck will see the government get a 20 percent stake, which could rise to 25 percent plus one share in the event of a takeover attempt, as it seeks to protect thousands of jobs.
Hard times for Boeing, long a symbol of American might
Business 5 years ago

Hard times for Boeing, long a symbol of American might

Boeing, a longtime symbol of American industrial power, was unable to raise the funds to finance its business.
Government drafts $1b rescue plan to save Garuda Indonesia
Business 5 years ago

Government drafts $1b rescue plan to save Garuda Indonesia

The rescue plan includes a proposal to restructure Garuda Indonesia’s $500 million sukuk due next month and arrange new bridge loans of as much as $500 million to meet working capital requirements.
Bail-in, not bailout banks
Editorial 5 years ago

Bail-in, not bailout banks

Profitability and asset quality have been adversely affected by the COVID-19-induced economic downturn and probably even economic recession.
Richard Branson seeking buyer for Virgin Atlantic: Telegraph
Business 5 years ago

Richard Branson seeking buyer for Virgin Atlantic: Telegraph

Branson has set an end-of-May deadline to save the UK airline from collapse and is focused on securing new private investment from more than 100 financial institutions, the newspaper quoted people familiar as saying.
Jeff Bezos gains $24 billion while world’s rich reap bailout rewards
Business 5 years ago

Jeff Bezos gains $24 billion while world’s rich reap bailout rewards

With consumers stuck at home, they’re relying on Jeff Bezos’s Amazon.com more than ever. The retailer’s stock climbed 5.3 percent to a record Tuesday, lifting the founder’s net worth to $138.5 billion.
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