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Brazil Cancels Abengoa's Power Transmission Licenses

Brazil’s Mines and Energy Ministry has canceled nine licenses to build transmission lines that had been granted to Spain’s Abengoa SA after the company abandoned construction works in 2015, a senior official said on Wednesday. The decision formalizing ca ...

Daily Headline - global.abi.org - 09/20/2017 - 19:11 - 0 comments

Eurowings Wins Union Backing to Speed Up Hiring Amid Air Berlin Turbulence

Lufthansa budget unit Eurowings has agreed a deal with the Verdi union that will allow it to hire new cabin crew at short notice from rivals such as bankrupt Air Berlin, Reuters reported. Eurowings launched a recruitment drive last month, seeking around ...

Daily Headline - global.abi.org - 09/20/2017 - 19:11 - 0 comments

Air Berlin Unit Niki Denies Has Unpaid Bills to Tour Operator

Austrian airline Niki said on Wednesday it had paid all bills owed to a tour operator and it therefore expected to avert bankruptcy proceedings which have hit parent Air Berlin, Reuters reported. Law firm Kosch & Partner said earlier it had applied f ...

Daily Headline - global.abi.org - 09/20/2017 - 19:13 - 0 comments

Greece Will Remain Under Supervision After Third Bailout Deal

The Greek economy will remain under close supervision for years after the completion of the third bailout deal, the president of the Euro Working Group (EWG), Thomas Wieser told insider.gr in an interview published on Wednesday. Even though he is confide ...

Daily Headline - global.abi.org - 09/20/2017 - 19:15 - 0 comments

Global Economy Improving But Lacks ‘Self-Sustaining Upswing’

Economic performance is improving in most of the world’s leading economies but is still short of a self-sustaining upswing, the Organisation for Economic Cooperation and Development said on Wednesday. In an update to its economic forecasts, the Paris-bas ...

Daily Headline - global.abi.org - 09/20/2017 - 19:17 - 0 comments

Rivals Add Caribbean Capacity to Fill Air Berlin Gaps

Airlines Condor and Eurowings plan to provide flights to the Caribbean from Duesseldorf, meeting demand from Germans seeking winter sunshine after cancellations by insolvent Air Berlin, Reuters reported. Air Berlin filed for bankruptcy protection in Augu ...

Daily Headline - global.abi.org - 09/19/2017 - 22:35 - 0 comments

TUIfly Eyes Costs as it Prepares to Take Back Air Berlin Planes

In a related story, tour operator TUI’s airline TUIfly is seeking to cut its costs by at least 30 million euros ($36 million) as it prepares to take back aircraft it has leased out to insolvent Air Berlin’s Austrian unit Niki, a German paper reported. So ...

Daily Headline - global.abi.org - 09/19/2017 - 22:37 - 0 comments

Italy Bank Cleanup Shifts to $150 Billion in Doubtful Loans

After tackling billions of dollars in bad loans, Italian banks are moving on to a somewhat less risky but possibly trickier category of distressed debt as they seek to clean up their balance sheets, Bloomberg News reported. “Unlikely-to-pay loans are the ...

Daily Headline - global.abi.org - 09/19/2017 - 22:41 - 0 comments

BA Owner IAG Among Bidders for Air Berlin

British Airways owner IAG has joined the field of bidders for parts or all of insolvent German airline Air Berlin, two people familiar with the matter told Reuters on Monday. Lufthansa and several other parties had put in bids for parts of Air Berlin by ...

Daily Headline - global.abi.org - 09/19/2017 - 00:17 - 0 comments

Forget Default: Deutsche Reckons Debt Market Risk Lies Elsewhere

What’s in a word? A lot when it comes to the term “liquidity.” For years, academics, investors and regulators have sparred over the meaning of liquidity, and the degree to which it’s said to have deteriorated in the marketplace, Bloomberg News reported. ...

Daily Headline - global.abi.org - 09/19/2017 - 00:18 - 0 comments

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