Long-haul, low-cost carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit ($120.60 million) to restart the airline, deputy chairman Lim Kian Onn said in a newspaper interview published on Saturday.
He said the airline had actual liabilities of 2 billion ringgit, with the larger figure of 63.5 billion ringgit including all lease payments for the next eight to 10 years and its large order for Airbus SE planes and contracted engine maintenance with Rolls-Royce Holdings PLC .
In case you are keeping track:
How to get a luxury kitchen on a budget
The kitchen is, in most cases, the most expensive room in the house: the general rule of thumb is that a kitchen remodel costs between 5 per cent and 15 per cent of the value of your home. It's a significant investment, however you do it – particularly if you want good-quality cabinetry and a high-end finish. But there are ways to get a luxurious look for less.
Just as some major fashion labels offer a more accessibly priced diffusion line, some high-end kitchen companies now have offshoots that display the same design nous but at a lower price. A bespoke Plain English kitchen, for example, starts from around £35,000 but can often rise to far more; while its sister brand, British Standard , produces off-the-peg solid wood cupboards – handmade but unpainted – from £425 each.
'Both sides benefit': Why Fast Company pursued more smaller-budget sponsors for
Fast Company went bigger in nearly every aspect of its first virtual Innovation Festival earlier this month. It added nearly 100 sessions, increased its audience five-fold over last year, it more than doubled the number of sponsors and it increased the event’s overall revenue by 30% year over year.
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The strategy for selling the virtual Innovation Festival that took place from Oct. 5 through 9 was to “have a larger list of sponsors who are paying a little bit less, and that is exactly what we did,” said John Donnelly, chief revenue officer at Fast Company and Inc.’s parent company, Mansueto Ventures.
Fears Virgin Australia will be turned into budget airline after CEO walks | Virgin Australia |
The move sparked fears among unions that Bain would walk away from commitments to run Virgin Australia as a full-service airline, keep 6,000 jobs, maintain regional routes and reopen international travel when the coronavirus pandemic permits.
In addition to the potential job losses, a weakened Virgin Australia may not be able to compete effectively with the bigger Qantas, increasing the risk of higher airfares.
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"What we've seen at Bain over the last 24 hours has all the hallmarks of slippery private equity doing backroom deals that are not in the public interest," he said.
In case you are keeping track:
Succession: Why family businesses felt let down by Budget 2021 - Independent.ie
Passing control to younger family members got the TV treatment in Succession, an American satirical comedy-drama series but it is a very real issue for many firms here
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The first piece of advice that Kevin O'Connor received from his father, Ronan, when he was taking over at Kildare-based General Paints Group has always stuck with him - "Don't mess it up".
"My dad was quite a character," he added, laughing at some of the memories they shared as the Celbridge-family business that makes Colourtrend paints thrived, growing from an eight-man outfit to an employer of 125 people.
New Hampshire's fiscal situation improves with higher revenues, underspending - NH Business Review
A combination of revenues recovering faster than anticipated, including some potentially atypical receipts, and underspending at public agencies has improved New Hampshire’s fiscal situation relative to projections from earlier in the year.
But while the situation is more favorable than previously expected, significant unknowns remain, including the course of the pandemic and the potential for federal assistance to states and local governments, all of which could have profound impacts on New Hampshire’s ability to fund key services for Granite Staters.
Letter to the Editor: Former commissioner outraged by fire budget proposal - Mid Hudson News
Virginia lawmakers reach compromised deal on state budget
RICHMOND, Va. (WWBT) - Virginia Republican lawmakers are crying foul over a deal reached this week on the state's two-year budget. It all has to do with money for a potential bipartisan redistricting commission and what happens on Election Day.
Sources close to the process tell NBC12, it's likely the General Assembly will delay transmitting the final budget to Governor Ralph Northam's office until right before the election.
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It's an issue because the proposed amendment on the ballot asks about creating a bipartisan redistricting commission, made up of 16 people. Half from the General Assembly, and half average citizens.
Happening on Twitter
Budget airline AirAsia X out of money, needs $120 million for restart - report https://t.co/aWxeBJaWxp https://t.co/bymvLCIf06 Reuters (from Around the world) Sat Oct 17 08:55:02 +0000 2020
KUALA LUMPUR: The long-haul budget carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million… https://t.co/qav6d2H2IG BangkokPostNews (from Thailand) Sat Oct 17 08:12:55 +0000 2020
Budget airline AirAsia X out of money, needs $120 mln for restart - report https://t.co/Z1N2MjhwTG Jamie_Freed (from Sydney, New South Wales) Sat Oct 17 06:05:19 +0000 2020
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