Wednesday 26 November 2014
 
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Restructure

Air Berlin cuts capacity by 5pc in revamp

Air Berlin, which is 29 per cent owned by Abu Dhabi-based carrier Etihad, is cutting the number of seats it offers by 5 per cent and scrapping some of its routes as part of latest restructuring efforts to return to profits. The re

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Dubai World has over 60pc assent for debt restructuring

Dubai World has secured agreement from more than 60 per cent of its creditors to reschedule its debt repayments, a top government executive said on Thursday, just short of the two-thirds assent needed to change the existing terms.

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Malaysia Airlines to cut 6,000 jobs, $1.9bn restructure

Malaysia Airlines , the country's loss-making flag carrier, will cut 30 per cent of its workforce as part of a sweeping restructuring that will cost six billion ringgit ($1.9 billion), majority investor Khazanah Nasional said.

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Nakheel repays all $2.15bn bank debt 4 years early

Dubai property developer Nakheel is repaying all of its 7.9 billion dirhams ($2.15 billion) of bank debt as much as four years ahead of schedule, the company said in a statement on Wednesday. The final instalment of the debt was t

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Transguard plans major corporate restructuring

Dubai-based Transguard Group, is set for a major corporate restructuring as it prepares to capitalise on potential business opportunities to develop its corporate portfolio throughout the UAE and the wider Gulf region.  

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Jet Airways plans revamp after record loss

Jet Airways has laid out a three-year restructuring plan vowing to take tough measures to return India's No. 2 airline by market share to profit after posting its worst ever loss. All but one of India's big airlines loses

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Dubai to repay 2015 debt on time

Dubai will not have any issues in repaying all its debt maturing in 2015, and more state-linked firms are likely to repay obligations ahead of schedule, a top government official said on Tuesday. "We will have no issues in re

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Etihad open to Alitalia talks, but ‘firm on demands’

Etihad Airways, the national airline of the UAE, has signalled that it is ready to continue talks on a potential investment in Italy's troubled Alitalia but it refuses to budge on tough conditions on debt restructuring and job cuts, a source

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Consultation to revamp Tamkeen training underway

A two-day consultation is underway which marks the start of a massive restructuring process that will change the way one of Bahrain's leading training providers will operate.   Tamkeen has invited business le

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Dubai World prepays $284m to creditors

Dubai World, one of the emirate's big state-owned conglomerates, has prepaid $284.5 million to creditors under its $25 billion debt restructuring plan, sources familiar with the matter said on Wednesday. The conglomerate obtai

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