Malaysia’s AirAsia X proposes paying 0.5% of $8.1 bln debt
AirAsia X Bhd (AAX) (AIRX.KL) is proposing to pay just 0.5% of debt owed to each of its creditors and to terminate all existing contracts so that it can restructure 33.65 billion ringgit ($8.1 billion) of liabilities, a document seen by Reuters shows.
Marketmind: Stagflation blues
Even by the conservative standards of global organisations, the International Monetary Fund is known for its cautious forecasts. So, when the Fund cut 2021 growth forecast on Tuesday and said it was growing more concerned about entrenched inflationary pressures, there is reason for investors to take notice.
World must triple clean energy investment by 2030 to curb climate change -IEA
Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday.
Business jet makers look to tap surging corporate travel demand at Las Vegas air show
Planemakers are likely to unveil new orders and models at the world’s largest business jet show this week as they aim to cash in on a boom in private travel, but executives warn of headwinds due to a capacity crunch.
Analysis: Corporate business travel ‘carbon budgets’ loom for airlines
As major companies look at drastic ways to cut carbon emissions from corporate travel, airlines are bracing for a major hit to business-class travel, a key revenue driver, industry executives and experts say.
Santander in talks with over 200 Portugal staff hit by job cuts – source
Spain’s Santander (SAN.MC) is in negotiations with about 210 employees in Portugal as part of a wider cost-cutting plan that affects 11% of its workforce there, a source with knowledge of the matter said.
Marketmind: Watch those spiralling gas prices
A massive week in monetary policy, with some 16 central banks holding meetings and possibly the first rate hike from a developed nation — Norway. Not to say others will follow any time soon; the Federal Reserve for instance may strees its own rate rises remain distant. Others such as Switzerland and Japan are likely to stay resolutely dovish.
Cathay Pacific lowers Q4 capacity forecast as travel restrictions linger
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13% of pre-COVID levels, down from an earlier 30% target for the fourth quarter as travel restrictions linger.
Marketmind: When the Dragon sneezes, Europe catches a cold
As pressure builds on China’s tech and real estate moguls and its economic growth falters, markets worldwide are starting to get uneasy. But it’s Europe, with its export-oriented economy and supercharged luxury stocks reliant on affluent Asian shoppers, which is likely to feel the most genuine pain.
Japan cuts economic view on weaker production, spending due to COVID revival
Japan cut its economic view for the first time in four months as a surge in COVID-19 cases disrupted manufacturers’ global supply chains and dampened consumer confidence.
