...airline urgently shopping for bailout of about $60 million ...unions allege institutional corruption South African Airways (SAA) has run out of money and is teetering on the edge of bankruptcy, according to information given to the country's parliament. It is thought the national carrier may soon be unable to pay salaries. The cash-flow
Tag: Business
Nissan-Renault Officially World’s Largest Automaker At Halftime
Yesterday, at 1:30 p.m. Tokyo time, a long-standing desire of Carlos Ghosn was fulfilled. Ghosn’s life work, the Renault-Nissan Group, can be called World’s Largest Automaker, for the first half of the year, at least. The man who had similar urges, Volkswagen’s Martin Winterkorn, now lives in infamy. His company
Air France-KLM acquire 31% of Virgin Atlantic
British tycoon Richard Branson is to sell his majority ownership of Virgin Atlantic. The French-Dutch airline Air France-KLM announced Thursday it was taking a 31 percent state in Britain’s Virgin Atlantic for 220 million pounds ($287 million, 246 million euros). The deal which would last for at least 15 years is worth
UK Car Production Slumps 14% In June
Grab, Uber rival in Asia raising $2.5bn in new financing
Southeast Asian ride-hailing firm Grab said Monday it expects to raise $2.5 billion in financing, mostly from China’s Didi Chuxing and Japan’s Softbank, as it strengthens its lead over rival Uber. Didi, China’s ride-hailing leader, and mobile giant SoftBank will invest up to $2.0 billion while $500 million is expected to
How Lufthansa lifted 60 million passengers in 6 months
How Virgin Atlantic carried 3 million Nigerian passengers
... all passengers were carried through the Lagos-London route in 16 years -- airline is giving away generous discounts to its customers to mark the period Virgin Atlantic said it has carried over three million Nigerian passengers between Lagos and London Heathrow in the last 16 years it commenced flight operations between
Transportation Startup Transfix Raises $42 Million From Investors
Freight-booking company connects shippers with trucking fleets via an app and website Transfix, an online service helping companies to hire trucks to move their goods, said Wednesday it had raised $42 million from investors, in one of the largest funding rounds to date for a freight booking startup. The Series C funding
UBER AND YANDEX AGREE TO COMBINE RIDE-SHARING BUSINESSES IN RUSSIA
Uber and Yandex (the Google of Russia) have announced that they will be combining their ride-sharing businesses in Russia and will extend to five nearby markets namely Azerbaijan, Belarus, Kazakhstan, Armenia and Georgia. Yandex will contribute $100 million into a new joint company in which Yandex will own 59.3 percent and employees
Dotimi Pots of Soup Delivered by Courier
.…Moov facilitates Dotimi Mobile Pots of Soup and Signature Parcels partnership In a bid to continue serving its clientele freshly prepared dishes, mainly native Nigerian soups and stews garnished with embellishments, Nigeria’s foremost domestic soup makers, Dotimi Mobile Pots of Soup has announced a partnership between the soup processing company and