Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
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Saudia to privatize four more businesses
Arabian Business said in its report that businesses of the state of Saudi Arabia, including Prince Sultan Aviation Academy and Saudia Private Airline, will be privatized soon.
Chinese taxi app Didi expected to close $100M in Series C from Tencent
Shenzhen, China-based taxi app Didi Dache is reportedly raising $100 million in a Series C funding round from investors Citic and Tencent for the integration of a payment platform into the app.
Irish Aviation Authority pours in €20M in US air traffic surveillance firm
The Irish Aviation Authority has spent €20 million to buy a 6% stake in Virginia, US-based air traffic surveillance firm Aireon LLC, as part of an agreement with Italy and Denmark to invest in the new service.
Air France-KLM to sell CityJet, VLM Airlines to Germany's Intro Aviation for undisclosed sum
Air France-KLM has put its regional airline CityJet on the block after posting a loss of €209 million last year. It had received on Friday a firm offer from Germany's Intro Aviation to buy the struggling Dublin-based airline.
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Madrid, Spain-based global travel distribution system Amadeus bought hotel IT solutions provider Newmarket International Inc for $500 million in a bid to conquer the hospitality space.
Munich, Germany-based travel marketplace Excursiopedia has added Moscow, Russia-based startup Travelatus in an effort to become a leader in the international travel industry and help travelers find local activities.
Israel-based public transit app Moovit has closed $28 million from a funding round led by Sequoia to improve its service that gives commuters a real-time perspective of the best public transportation routes.
NWS Holdings Ltd, owned by Hong Kong tycoon Cheng Yu-tung, entered an agreement to purchase a stake in Beijing Capital International Airport Co from sovereign wealth fund GIC Pte.
Google Inc. is looking to develop an $82 million corporate aviation facility in San Jose to service its private jets. Google is partnering with private aviation firm Signature Flight Support and private jet company Blue City Holdings for the project.
German Efromovich, the owner of Colombian flag carrier Avianca, is reportedly looking to acquire Italian airline Alitalia or Polish flag carrier LOT Polish Airlines. Efromovich seeks to boost his presence in Europe.
Indian airport developer GMR Infrastructure has put up for sale its stake in Istanbul airport Sabiha Gokcen International Airport. Malaysia Airports Holdings, which already owns a 20% stake in the Turkish airport, is looking to buy GMR's 40% holding.
Ford chairman Bill Ford, Jr. invested in San Francisco-based startup QuickPay through his venture firm Fontinalis Partners to help improve on-street and off-street parking experience.
India-based firm GMR Infrastructure Ltd said exit deal of its 40% interest in Istanbul's Sabiha Gokcen airport was still in progress, after a local paper reported it had already closed the deal for €220 million ($302.58 million).
