Bloomberg AirAsia Group Bhd’s long-haul arm has offered to pay creditors just 0.5% of the more than $8 billion total debt they are owed and terminate all existing contracts as it tries to restructure, a document seen by Bloomberg shows. The carrier, AirAsia X Bhd, told creditors it is unable to meet immediate debt and other financial commitments based on …

Bloomberg Saks Fifth Avenue’s e-commerce unit is interviewing potential underwriters this week for an initial public offering that could take place in the first half of 2022, Dow Jones reported, citing people familiar with the matter. The luxury retailer is targeting a valuation of around $6 billion, triple its worth in March, it added. After steps earlier this year to …

Bloomberg JD Logistics Inc is planning to set up its own fleet of planes as the Chinese firm eyes a greater slice of a cross-border cargo market engulfed by global supply chain snarls. The logistics arm of Chinese e-commerce giant JD.com Inc aims to have “no fewer than 100 planes” by 2030, including leased and jointly purchased aircraft, said Chief …