LONDON: Ryanair says it will meet with Britain’s Civil Aviation Authority (CAA) after the agency threatened to take enforcement action against the budget carrier for what it described as persistently misleading passengers about flight cancelations.
The airline said Thursday it would “fully comply” with whatever requirements the CAA imposes.
The CAA warning issued Wednesday came after Ryanair scrapped 18,000 more flights in a second round of cancelations after the airline “messed up” the scheduling of pilot vacations. The Dublin-based carrier says 34 routes will be suspended from November to March 2018, affecting some 400,000 customers who had already booked flights
The regulator says Ryanair must ensure customers receive comprehensive information about their rights and compensation entitlements. It says the airline again “failed to provide customers with the necessary and accurate information.”
UK aviation regulator threatens action against Ryanair
UK aviation regulator threatens action against Ryanair
Stc Group issues US dollar-denominated sukuk with a total value of $2bn
RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.
The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.
It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.
The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy.
This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.
This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position.
It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.
