Directors favouring Brazilian flag carrier Varig's integration with TAM now hold all key posts at the Ruben Berta Foundation, which owns 87.5% of Varig's shares. The Foundation rejected a rescue proposed by allies of Yutaka Imagawa, former Foundation chairman, who solicited European investors to block the merger.
Source: Airline Business
AirAsia X is aiming to complete the acquisition of sister company AirAsia Aviation by December, as both companies eye a “new era” following its completion.
Japan’s two largest carriers reported a drop in profit for the April-June quarter, despite seeing an increase in revenues.
The US Department of Justice (DOJ) is taking another 10 days to review Alaska Air Group’s proposed acquisition of Hawaiian Holdings, with the airlines now agreeing not to close their planned deal before the period ends on 15 August.
