Citigroup is a major multinational financial services firm headquartered in New York City. Citigroup is among the world's largest financial institutions with over 200 million customers across 140 countries. Citigroup is organised into two main business segments: Citicorp and Citi Holdings. Citicorp includes the firm's consumer banking division across all international markets and the Institutional Clients Group, which is Citi's investment banking and transaction services, a division which is a major player in debt and equity markets, private equity, lending, structured finance, hedge funds and research. Citiholdings includes brokerage and asset management, local (North America) consumer lending and a special asset pool.
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Qatar Airways’ CEO Akbar Al Baker announced on 20-Dec-2010 that Qatar Airways is on track to declare “a very hefty profit” this year, clearing the way for an IPO. The CEO stated he is "pretty confident" the carrier will launch an IPO in early 2012, after achieving three consecutive years of profitability.
As most were speculating about the consolidation of the mainline industry in the US late last year and earlier this year, some were saying it was the low-cost carrier sector in need of consolidation.
After months of confusion surrounding sales and development at London’s airports, Gatwick Airport was sold to Global Infrastructure Partners (GIP), just as BAA’s appeal against the Competition Commission’s (CC) order to sell the airport, as well as Stansted and one of the Scottish airports was being heard. The conclusion of this deal will be of great interest to governments seeking to sell airports across Europe (including those in Lisbon, Madrid and Prague) and possibly some in the US, after the financial crisis forced some to shelve privatisation plans, as asset values fell.
Despite the many forecasts and guesses about which companies would still be in the running for Gatwick Airport, and about last minute entrants, it is three of the original group that, it appears, have stuck it out. However, raising capital has been difficult, right up to the very end. The reward may be to acquire Britain’s second busiest airport at a very attractive price but BAA could still challenge the very legality of the sale.
United Airlines was the big winner at Wall Street's casino yesterday, leaping almost 25%. Despite warning of a negative yield outlook and a promised cash loss of nearly a quarter of a billion dollars due to its fixed hedge positions, there was some good news for it on the credit front - the area where all eyes are currently focused.
The planned lease of Chicago’s Midway Airport continues to grab attention. There has been a long gap between the first privatisation of a US airport, under the Clinton Administration’s 1996 Privatisation Pilot Program (the 99-year lease on Stewart Airport in New York State), and this one. Midway is the first (and only permitted) privatisation of a ‘major hub’ under the Program (even though it isn’t really a hub, certainly not by comparison with O’Hare Airport).
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