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24.10.26 - 23:12
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JetBlue Creditors Call In Restructuring Advisers As Stock, Bonds Crater (ZeroHedge)
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JetBlue Creditors Call In Restructuring Advisers As Stock, Bonds Crater
A federal judge blocked JetBlue Airways' $3.8 billion takeover of Spirit Airlines during the Biden administration to protect consumers. That supposedly brilliant decision is now looking increasingly disastrous for both airlines and the passengers it was meant to protect.
First, Spirit Aviation shuttered all operations earlier this year, stunning travelers with the abrupt move after 34 years of offering some of the most deeply discounted fares. Now, JetBlue could be on a similar trajectory, as the carrier's shares and junk bonds have cratered over the last several months.
Bloomberg News reported late Friday that JetBlue's creditors are organizing with restructuring advisers as the budget airline grapples with cash burn and high jet fuel prices.
The report centers on a group of creditors, including holders of $2 billion in bonds due in 2031 and a $742 million first-lien loan, who are working with PJT Partners and Akin Gum...
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24.10.26 - 13:18
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Is London really the most-taxed city? Banks accused of cherrypicking data (The Guardian)
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Lobby group's figures, shared with John Healey, are misleading as they do not include major rival Paris, say campaignersA banking lobby group has been accused of cherrypicking data and trying to mislead the British government by claiming a tax rise for banks at next week's budget would leave London less competitive than rival financial hubs.UK Finance, which represents banks including Lloyds, JP Morgan and Revolut, commissions an annual report tallying up all the taxes shouldered by a large bank, including corporation tax, social security, VAT and bank-specific levies. Continue reading......
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