(Bloomberg) — Delta Air Lines Inc. is preparing to issue new debt backed by its frequent-flyer program, the latest to use miles to help boost liquidity amid the Covid-19 pandemic. The airline is set to market new loans and bonds secured by its SkyMiles loyalty program after the U.S. Labor Day holiday on Sept. 7,…
Macquarie Bank might be courting a backlash from mortgage brokers after revealing changes that will govern the types of people who can market its mortgage products. Under a new policy that takes effect on 14 September Macquarie will be asking brokers to furnish details about their criminal records and personal financial histories before allowing them…
New Delhi: At a time when business owners such as Anil Ambani and Venugopal Dhoot are trying to defend their family assets from getting attached as lenders stake claim on loans with personal guarantees, a little known Delhi-based businessman could provide much needed succour. In a recent ruling, the Delhi High Court has stayed personal…
BUSINESS is full of highs and lows. The Toowoomba business community has been through a lot in the last year. Here are the businesses that shut up shop. Charred David Wood of Charred with frozen meals at The Toowoomba Farmers Market. The restaurant has moved to offering takeaway meals after coronavirus fears impact trade, Saturday,…
Virgin Australia may have been trading while insolvent in the early days of the coronavirus pandemic’s impact on airline travel, according to a report by Virgin’s administrator Deloitte. “Our preliminary analysis indicates the group was insolvent from 22 March 2020 and possibly as early as 18 March 2020,” Deloitte said in report to creditors ahead…
But Australian Restructuring Insolvency & Turnaround Association chief executive John Winter said that could be a dangerous path. “A move to a debtor-friendly system is going to send shockwaves through any business that provides loans or trade credit,” Mr Winter said. “It’s all based on this notion that some people who ruined a business should…
Swissport also received a binding commitment from an ad hoc group of senior secured creditors (AHG) for an interim financing of 300m. Credit: Swissport International AG. Sign up here for GlobalData’s free bi-weekly Covid-19 report on the latest information your industry needs to know. Swissport, a company which offers airport ground and cargo handling services,…
Macaus leading junket operators have seen no increase in volume since border restrictions between Macau and Guangdong Province, according to industry analysts, with tightening controls on outbound capital flow from China and liquidity concerns heavily impacting the VIP sector. Authorities reinstated the Individual Visit Scheme (IVS) for residents of Zhuhai to visit Macau on 12…
A MAN has been jailed for 20 months after stealing almost 300,000 to pay a gambling debt. Oliver De Haan, of Upper Bolney Road, Shiplake, admitted taking cash belonging to an equine business owned by his father Ben De Haan, a former jockey who won the Grand National on Corbire in 1983. The firm, which…
Administrators for collapsed travel chain STA Travel say they will not offer refunds to customers who cancelled their holidays because of the COVID-19 pandemic. STA Travel appointed administrators from Deloitte on Saturday after weeks of refund claims from angry customers forced to ditch their travel plans amid domestic and international border closures. The chain, which…