Accor bids for Mantra

October 10, 2017 by  
Filed under Hospitality, News, PACIFIC

SYDNEY, 10 October 2017: France’s AccorHotels has made a AUD1.17 billion (USD910 million) bid for one of Australia’s biggest hotel operators, the Mantra Group, the local company said Monday in a move that sent its share price soaring.

Mantra, which operates more than 20,000 rooms in Australia, New Zealand and Indonesia, said it had received an offer of AUD3.96 cash per share, valuing the firm at Aus$1.17 billion.

“Mantra has granted Accor access to due diligence to determine if a transaction can be agreed and recommended unanimously by the Mantra board,” the Australian-listed company said in a statement. Read more

Qatar takes its money elsewhere

August 4, 2017 by  
Filed under Aviation, Middle east, News

DOHA, 4 August 2017: Qatar Airways said, Thursday it has decided not to proceed with its proposed “passive financial investment in American Airlines”.

Qatar was  earlier looking at investing up to 10% in American Airlines, news that shocked the US airline’s board.

In a press statement the airline said: “Further review of the proposed financial investment, taking into account the latest public disclosure of American Airlines, has demonstrated that the investment no longer meets our objectives.” Read more

Chinese airline buys AF stake

July 31, 2017 by  
Filed under Aviation, News

BEIJING, 31 July 2017: China Eastern Airlines said at the weekend it is set to acquire a 10% stake in Air France-KLM, as it moves to expand its network in Europe.

The state-owned company will pay about 375 million euros (USD438.5 million) for its share in the French-Dutch airline, it said in a filing to the Hong Kong stock exchange.

American carrier Delta will also acquire a 10% stake in Air France-KLM, the statement said. Read more

Lao Airlines shares for sale?

July 11, 2017 by  
Filed under Aviation, Laos PDR, News

VIENTIANE, 11 July 2017: Lao government says it is ready to recruit new stakeholders for Lao Airlines as part of its efforts to overhaul state-owned enterprises.

Vientiane Times quoted government spokesperson, Chaleun Yiapaoher, saying foreign airlines with “appropriate credentials” were welcome to joint venture with the Lao national flag carrier.

“The government’s intention is not to sell [the whole enterprise], but to seek overseas airline shareholders.” Read more

Qatar buys American Airlines shares

June 23, 2017 by  
Filed under AMERICAS, Middle east, News

NEW YORK, 23 June 2017: Qatar Airways, its Middle Eastern business pressured by a diplomatic row with neighbours, is seeking as much as a 10% stake in American Airlines, the US carrier said Thursday.

Qatar Airways’ surprise investment push was disclosed by American Airlines in a securities filing, Thursday, saying the Qatari company planned to buy at least USD808 million in American shares.

In addition, Qatar Airways’ chief executive told his counterpart at American that the carrier sought a stake of about 10%. Read more

THAI declines to buy Nok shares

May 26, 2017 by  
Filed under Aviation, News, Thailand

BANGKOK, 26 May 2017: Thai Airways International PCL says it has decided against maintaining its capital share in Nok Air PCL (Nok Air) through the subscription of  new share issue.

Nok Air increased its capital to counter a lack of liquidity and to provide additional funding to continue operations. Current shareholders were given the first option to buy the new share issue.

The announcement, released by the airline, Thursday, followed a board of directors meeting, 21 May, when the board decided against subscribing to the new shares after Nok Air’s board approved the new issue last April.

THAI’s board made its  decision based on a study of the “suitability and value”. Read more

TransAsia suspends flights

November 22, 2016 by  
Filed under News, North Asia

TAIPEI, 22 November 2016: Taiwan’s TransAsia Airways said it would suspend flights from Tuesday as officials announced a probe into suspected insider trading at the loss-making airline, which is rumoured to be seeking buyers after two deadly crashes.

The airline, in a statement on its website late Monday, said it had requested a halt in trading of its shares before an “impromptu board meeting” Tuesday.

It said flights would be suspended from Tuesday and an explanation given to the public after the meeting. Read more

CX downgrades profit outlook

October 17, 2016 by  
Filed under Aviation, News, North Asia

HONG KONG, 17 October 2016: Shares in Hong Kong flag carrier Cathay Pacific plunged more than 5%, late last week, after it scrapped its profit outlook for the second half of the year, citing competition and overcapacity.

The Hong Kong-based firm said it no longer expected business to improve in the latter half of the year — a departure from its previous forecast. Net profit for the first six months of the year stood at HKD353 million (USD45.5 million).

Shares in the company were trading as low as HKD10.16 (USD1.31) per share, down 5.58%from Wednesday’s close. Read more