How UAE defence giant EDGE Group plans to double its exports
The UAE defence conglomerate has put an aggressive strategy in place to increase its share of exports while navigating the growing gap between East and West.
Court Approval of First Day Motions for Mesa
Mesa Air Group has received approval of all critical motions at its "first-day" hearing in the United States Bankruptcy Court for the Southern District of New York, presided over by the Honourable Judge Martin Glenn, with requests included covering its obligations to employees, suppliers and customers, business operations, tax matters, cash management, fuel procurement, and case management.
To ensure the company continues to operate without interruption, the Court has approved all requests which include important motions such as the Mesa's requests to continue to use its current cash management systems which will support the other approved requests including the continuation of existing employee salary and benefit programmes, payment of pre-petition amounts to certain critical vendors, ongoing payments to vendors and suppliers, and the continuation of all go! Mokulele customer programmes.
"The approval of our first day motions allows us to continue to focus on our restructuring efforts," said Jonathan Ornstein chairman and chief executive of Mesa. "Our hope is to move through this process in a timely manner and this first success is the foundation upon which we will build as we eliminate excess aircraft to better match our needs and give us the flexibility to align our business to the changing regional airline marketplace."
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