China Evergrande Group missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt payment in a week, although the cash-strapped company is scrambling to meet its obligations in its home market.
China Evergrande inched closer on Friday to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.
The editor-in-chief of state-backed Chinese newspaper Global Times warned debt-ridden property giant Evergrande Group (3333.HK) that it should not bet on a government bailout on the assumption that it is "too big to fail".
Malaysia's AirAsia X Bhd (AAX) has made "substantial progress" in months-long talks with creditors as it aims to convene meetings with them to vote on a restructuring scheme by the end of October, its chief executive said.
Philippine Airlines [RIC:RIC:PHL.UL] will return 22 aircraft, mostly Airbus and Boeing jets, to lessors as it pursues a financial restructuring programme to survive after the pandemic has decimated global travel, executives said on Monday.