Air France-KLM deny bidding for troubled Alitalia

Alitalia, struggling to compete with low-cost European rivals, went into administration last May. (Reuters)
Updated 13 January 2018
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Air France-KLM deny bidding for troubled Alitalia

Paris: The Air France-KLM group on Saturday denied it had made an offer for ailing airline Alitalia, a day after Italy's industry minister listed it among three bidders.
Alitalia, struggling to compete with low-cost European rivals, went into administration last May at the request of its shareholders after staff rejected job and salary cuts as part of a two-billion-euro ($2.4 billion) rescue plan.
"Air France-KLM denies making an offer to buy Alitalia," a statement said adding that the group "had not taken part in the process launched by Italian authorities."
On Friday, Economic Development Minister Carlo Calenda said on the La7 television channel that there were three offers: one from German airline giant Lufthansa, another from US private equity group Cerberus, and a joint EasyJet-Air France bid.
"The presence of Air France is not sure and I will verify on Monday with the Alitalia administrators," Calenda however said.
According to local media reports, Lufthansa wants to lay off 2,000 employees -- almost a quarter of the total on the aviation side -- if its offer for Alitalia is accepted.
Alitalia has 11,500 workers in total.


GCC citizens eye properties in Oman as number of buyers rises

Many Gulf nationals often buy properties in prominent tourist spots. (File/AFP)
Updated 21 October 2018
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GCC citizens eye properties in Oman as number of buyers rises

  • An increase of 17.63 percent has been recorded

DUBAI: The number of GCC citizens buying properties in Oman has risen by 17.63 percent according to the country's National Center for Statistics and Information, local daily Times of Oman reported on Sunday.

The statistics show that 1,038 properties were purchased by GCC nationals in August 2018, compared to the 855 purchased last year.

“The increase in the number of GCC nationals’ ownership of plots in Oman is because they benefit from the returns on investment in the real estate sector and its value, compared to some other Gulf states. Some of them also buy plots because they have relatives in Oman and want to live near them. Some have inherited land plots because they are of Omani origin, in addition to the desire of many investors to own property in some provinces because of the weather and moderate climate,” an official from Oman’s housing ministry said.

GCC nationals often buy properties in prominent tourist spots in Oman, according to Ahmed Al-Hooti, a member of the Oman Chamber of Commerce and Industry.

“Many nationals from Saudi, Qatar, UAE and Bahrain come here and buy properties in popular tourist spots such as Salalah, Masirah Island, and eastern beaches such as Ras Al Hadd for activities such as fishing,” Al-Hooti said.