Just as domestic air travel is approaching 2019 levels, a potentially threatening new COVID-19 variant has emerged that could set the airline industry's recovery back.
(Bloomberg) -- General Electric Co. said it now expects to buy back $25 billion of bonds, expanding one of the biggest debt repurchases ever, after finding strong demand from investors to sell the securities. Most Read from BloombergBillionaire Family Feud Puts a Century-Old Business Empire in JeopardyAn Arab City’s Booming Art Scene Is Also a Grab at Soft PowerAsia’s Richest Man Looks to Walton Family Playbook on SuccessionThe 24-Year-Old Aiming to Dethrone Victoria’s SecretThe Winners and Lose
General Electric Co. said Friday it expects to achieve $80 billion in gross debt reduction between the end of 2018 and the end of 2021, up from its $75 billion projection made on Nov. 10. The company said it's on track to achieve deleveraging targets and deliver high-single-digit free cash flow margins in 2023. About $33.3 billion in aggregate principal was tendered at or prior to an early participation date. GE accepted for purchase about $25 billion in aggregate principal.