Reading Time: < 1 minute AirAsia Group Bhd.’s long-haul arm has offered to pay creditors just 0.5% of more than $8 billion of the total debt they are owed. The airline said it is the only way to avoid liquidation and that the subsequent restructuring will allow it to become profitable again. As Bloomberg reports, “To avoid a liquidation and […]

Reading Time: < 1 minute The Indian government has given the go-ahead for the privatisation of the loss-making and debt-ridden Air India. Finance Minister Arun Jaitley confirmed that subsequent to a cabinet meeting, “in principle” approval has been given for the sale of a stake in the airline. This is one of a series of initial steps that needs to […]

Reading Time: 2 minutes Turkmenistan Airways, the flag-carrier airline for Turkmenistan, has narrowly avoided suspension of all flights in Russian airspace owing to the failure to settle a US$220,000 debt payable to local Russian air traffic management. The airline had originally assured Russian authorities and the Federal Air Transport Agency, Rosaviatsa, that the debt would be settled on August […]