A year and a half after eliminating an unprecedented 4,000 jobs and cutting flights to stem losses, Gol Linhas Aereas Inteligentes SA is turning into the most lucrative investment in Brazil’s bond market.
United Continental Holdings Inc. fell the most since October 2011 after posting the only first- quarter loss among major U.S. carriers, hampered by severe winter weather that trimmed results by $200 million.
Overseas Shipholding Group Inc. is running out of cash and must renegotiate a loan agreement as an industrywide slowdown and rejection of a federal debt guarantee impedes profitability, challenging the company’s ability to pay its obligations and pay for new vessel deliveries next year.
Blackstone Group LP is offering the highest interest seen on a loan this year if lenders agree to swap debt in Travelport Ltd. for longer-dated obligations, or else it may put the parent of the second-largest travel- reservation system provider into bankruptcy.
Labor-relations consultant Phillip Wilson has had a busy month, flying from Arizona to Virginia holding seminars and conducting online workshops to get employers ready for what he says is one of the biggest changes in labor law in decades.
On the evening of Dec. 10, 2007, pilot Kenny Edwards got the order to fly a Continental Airlines Inc. commuter flight from Tampa, Florida, to West Palm Beach. He told his dispatch supervisor he wouldn’t do it.
American Airlines is selling investment-grade debt even as it spends a 15th month in bankruptcy while bond buyers look ahead to the merger with US Airways Group Inc. that will create the world’s largest carrier.