IMF Leaves Egypt After Hearing From Opposition
(CAIRO) — A team from the International Monetary Fund left Egypt without getting broad backing from the opposition for a government economic plan aimed at getting a key $4.8 billion loan, political blocs said Tuesday. Egypt’s main factions say they agree in principle on the need for the loan, seen as a lifeline for the country’s battered economy, but there are concerns over unrest if painful austerity measures linked to it are not backed by political consensus. The IMF said in a statement that its delegation met with a range of political figures and Cabinet officials during the nearly two week-long visit that ended late Monday. In previous, shorter trips, the IMF has only focused on meeting with government officials. The country’s political polarization has further delayed reaching agreement around the deal. Finance Minister El-Morsi Hegazi, who will meet with officials in Washington D.C. this weekend for annual IMF and World Bank meetings, said the government’s meetings with the ...
Airlines Forecast Post-Merger Profits
US Airways and American Airlines said they anticipate the merged company would earn a profit of $2.6 billion this year and remain profitable through 2017, excluding one-time items.
AMR files bankruptcy exit plan in step towards merger with US Airways
NEW YORK - AMR Corp, the parent company of American Airlines, filed formal plans to exit bankruptcy on Monday, bringing its proposed $11 billion merger with US Airways Group closer to reality.
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Investment Firms in Talks to Buy Frontier Airlines
Two investment firms are in discussions with Republic Airways Holdings to acquire discount-carrier Frontier Airlines in a deal that could be valued at more than $1 billion including debt, said people close to the negotiations.
Banks Pressure Kingfisher Airlines
Banks increased pressure on India's Kingfisher Airlines in an attempt to recover $2.5 billion in debt, testing liquor mogul Vijay Mallya's ability to get the carrier flying again.