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Aerospace/Defense

Alitalia Rescue Plan Progresses

September 29, 2008 - Italian national carrier Alitalia reached an agreement with its pilots' union early Saturday, allowing the airline to focus on teaming up with Air France-KLM or Lufthansa in an arrangement which could be announced in early November.

Alitalia Could Lose Operating License

September 22, 2008 - Alitalia's bankruptcy woes have worsened and now the Italian national carrier faces the loss of its operating license--a fate that will be decided in a matter of days.

Midwest Airlines’ Restructuring Plan Takes Root; More Layoffs To Come

September 8, 2008 - Midwest Airlines, the embattled airline that was among the hardest hit during the bull-run in oil prices, has revealed it's making progress with its restructuring efforts, developments that could help the company avoid a bankruptcy filing.

Zoom Airlines Starts Administration Proceedings In UK, Canada

September 2, 2008 - Zoom Airlines said it has suspended operations and announced that its Zoom Airlines Inc. and Zoom Airlines Ltd, the Canadian and UK airlines, have started administration proceedings in their home countries.

Orrick Grows Bankruptcy Presence

September 2, 2008 - Raniero D'Aversa Jr. recently joined Orrick, Herrington & Sutcliffe as a partner and head of its New York creditors' rights and bankruptcy practice. The former co-chair of Mayer Brown's global restructuring, bankruptcy and insolvency group submitted to a brief interview with IDD.

Alitalia Files For Bankruptcy

September 2, 2008 - Italy’s national carrier, Alitalia, filed for bankruptcy protection with the Rome Court last Friday, as decided by the company’s board of directors. The board also asked the Italian government to appoint an administrator, according to a company release.

Politics As Usual

August 25, 2008 - As TradeWinds Airlines sank into bankruptcy, a politically-motivated fight between the company's owners may have fueled its descent.

Evercore To Receive $120M From Mizuho

August 21, 2008 - Evercore Partners said Thursday that it plans to raise $120 million in new funding through a deal with Japan’s Mizuho Corporate Bank.

Griffon, Goldman Team Up For Rights Offering

August 20, 2008 - Griffon Corp., a diversified holding company, has launched a rights offering involving one of Goldman Sachs’ investment units to raise up to $255 million in new financing.

CCMP Capital Lands Quiznos CEO

August 19, 2008 - CCMP Capital will see Greg Brenneman, currently the chief executive of sandwich chain Quiznos, join its ranks as chairman and investment committee member at the end of next month. Brenneman is known for steering companies through turnaround processes.

WL Ross Investment Ready For Takeoff

August 11, 2008 - WL Ross & Co., the private equity arm of Invesco which is run by financier Wilbur Ross, has agreed to invest up to $100 million in Indian airline SpiceJet Ltd.

Ratings Actions & Outlooks

August 4, 2008 - The latest in ratings downgrades and outlooks from Moody's and S&P.

Quite A Week For Carlyle

August 1, 2008 - The Carlyle Group completed its $2.5 billion acquisition of Booz Allen Hamilton while simultaneously disclosing it is getting out of the hedge fund business.

Alitalia's Board Weighs Options

July 29, 2008 - The board of struggling Italian airline Alitalia held a special meeting over the weekend to discuss its options as it awaits a rescue plan from its financial adviser.

Frontier Gets $75 Million Loan From Perseus

July 28, 2008 - Frontier Airlines has secured a $75 million debtor in possession loan from private equity firm Perseus LLC, which will also buy 79.9% of the reorganized company for $100 million.