Mounting debt to shackle airlines’ pandemic recovery, group says
Airlines are in a no-win situation. They need money now to keep from going under but know that debt payments will make it more difficult to make ends meet in the years to come.
Airlines are in a no-win situation. They need money now to keep from going under but know that debt payments will make it more difficult to make ends meet in the years to come.
Japanese shipping giant Nippon Yusen Kaisha (JPX: 9101) has taken out a 50 billion yen ($456.7 million) loan with an adjustable interest rate based on the company’s corporate social performance.
Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.
South Korea-based ocean box shipping line Hyundai Merchant Marine (KRX: 011200) has revealed plans to issue a 660 billion Korean won (US$562.4 million) convertible bond. It’s a bold move for a company that’s already carrying KrW4.1 trillion (US$3.49 billion) of debt. One analyst has described the company as having a “horrible balance sheet”.
Debt levels are down and EBITDA coverage for that debt is up as the LTL carrier has a strong year and quarter.