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    OYO raises USD 660 million debt from investors

    The post OYO raises USD 660 million debt from investors appeared first on TD (Travel Daily Media) Travel Daily. OYO has raised a term loan B (TLB) funding of USD 660 million from global institutional investors. The offer was oversubscribed by 1.7 times and the company received commitments of close to USD 1 billion from leading institutional investors. The company will utilise these funds to retire its past debts, strengthen the balance sheet and other business purposes including investment in product technology. OYO is the first Indian startup to be publicly rated by Moody’s and Fitch, two of the leading international rating agencies. Fitch and Moody’s rated OYO’s senior secured…

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    Busiest season is here! Half a million Kiwis travelling around New Zealand this school holidays

    The post Busiest season is here! Half a million Kiwis travelling around New Zealand this school holidays appeared first on TD (Travel Daily Media) Travel Daily. Well over half a million Kiwis are preparing to take to the skies this school holidays in what Air New Zealand is calling its busiest July break ever winter school holiday period. Air New Zealand is preparing for a busy July, with the airline operating 670,000 seats and 7,500 flights across its domestic network as a record number of Kiwis travel around Aotearoa. Queenstown is the number one destination for Air New Zealand customers, with 100,000 seats in and out of the picturesque destination.…

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    Struggling Norwegian paid managers $3.5 million in bonuses

    The post Struggling Norwegian paid managers $3.5 million in bonuses appeared first on TD (Travel Daily Media) Travel Daily. Norwegian Air has come under fire from politicians who accuse the Oslo-based airline of exercising “poor judgement” by awarding $3.5 million in management bonuses just as the carrier emerged from bankruptcy protection and restructuring. Norwegian has laid off thousands of workers in the last year and asked shareholders to bear a significant financial burden. Lawyers for Norwegian, on the other hand, claim the bonuses were necessary to keep key managers on board who the board feared would leave just as their skills were needed the most. Former CEO Jacob Schram is…

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    Vietjet raises USD 28 million in bond sale

    The post Vietjet raises USD 28 million in bond sale appeared first on TD (Travel Daily Media) Travel Daily. Vietjet Aviation Joint Stock Company has raised a total of VND 650 billion (USD 28 million) from selling 6.5 million bonds which is a result from its year-end bond issue in early December last year. The bond sale is a part of Vietjet’s mid-and-long-term bond plan to seek capital from the investors. The newly acquired cash will fund the airline’s development plan in 2021. According to Fitch Ratings, Vietnam’s aviation industry will recover faster than other countries’ in Southeast Asia due to its effective disease control. The ongoing trials of vaccines…

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    Singapore Airlines raises USD 500 million in US dollar bond debt debut

    The post Singapore Airlines raises USD 500 million in US dollar bond debt debut appeared first on TD (Travel Daily Media) Travel Daily. Singapore Airlines has raised USD 500 million in its first US dollar bond issue, which the company will use to buy new aircraft as the global aviation industry prepares for a post-pandemic travel rebound. The transaction was finalised on 14 January and the price was set at U.S. treasuries plus 260 basis points, according to a term sheet. The size of the 5.5 year deal was finalised after bookrunners received bids above USD 1.5 billion, and the bond carries a 3% coupon rate, the term sheet shows.…