As cash burn continued and concerns escalated on Wheels Up’s ability to continue as a going concern, shareholder Delta Air Lines and its investing affiliates came to the rescue with up to U.S. $500M in new financing.
/PRNewswire/ Certares and its partners today announced the opening of Ashore Resort & Beach Club ("Ashore"), a newly reimagined upscale resort destination.
German carrier Lufthansa said on Wednesday it had offered to buy an initial minority stake in ITA Airways, Italy's state-owned successor to Alitalia. Lufthansa said Italy is the most important market outside of its existing home markets and the United States, noting its importance as both a business and tourism destination.
Germany's Lufthansa is seen in pole position to enter the company's capital, the sources have said, with one adding it could buy a minority stake through a capital increase. Lufthansa and ITA declined to comment.