Business Standard Under the scheme, borrowers’ accounts will not be downgraded as sub-standard or ‘non-performing’ if their loans are restructured TopicsReserve Bank of India|debt restructuring scheme|India Inc The Reserve Bank of Indias (RBIs) loan restructuring scheme for Covid-19-affected borrowers has seen few takers in the corporate world so far, according to bank executives who have…
Owners of retail chain Riot Art & Craft have closed down all of its 56 stores after the company went into liquidation last week. Angry staff members said they were given no notice the stores were shutting down and were told via text message that they had lost their jobs last Monday evening. “All stores…
Virgin Australia’s new owners Bain Capital hope to reboot the airline’s inflight WiFi service as part of its new “customer service proposition”, although the shape of the WiFi packages and how they fit into the airline’s value-centric ‘hybrid’ model remains to be seen. Bain has severed Virgin’s contract with connectivity partner Gogo, which is in…
Advertisement: Singapore-based Avation PLC says they are nearly US$75 million out of pocket following the collapse and sale of Virgin Australia. The lessor had 13 planes on lease to Virgin Australia when the airline went into voluntary administration in April. Five of those planes have gone to new operators, three are back at Avation, and…