Market Beats | All United Airlines Flights Delayed; MultiPlan Shares Surge 82%; 5,000 Starbucks Workers on Strike; British Airways Considers Starlink WiFi; Lyft Sues San Francisco Government; Air Taxi Firm Lilium Avoids Bankruptcy; China Yovole Considers U.S. IPO

1. All United Airlines Flights Delayed

2. MultiPlan Shares Surge 82%

3. 5,000 Starbucks Workers on Strike

4. British Airways Considers Starlink WiFi

5. Lyft Sues San Francisco Government

6. Air Taxi Firm Lilium Avoids Bankruptcy

7. China Yovole Considers U.S. IPO

1. All United Airlines Flights Delayed

United Airlines announced today that a technical glitch caused all its U.S. flights on Christmas Eve to be briefly delayed by about an hour. The issue has now been resolved, and operations have returned to normal.

United apologized for the inconvenience and stated that its team worked swiftly to restore service.

The FAA estimated that U.S. airlines had scheduled 30,000 flights today, with up to 500,000 passengers traveling.

In July, Delta Airlines experienced a software failure that grounded flights for days.

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2. MultiPlan Shares Surge 82%

Healthcare analytics company MultiPlan secured creditor approval to extend the maturity dates of its 2026 and 2028 bonds. As of September 30, the company had $4.5 billion in long-term debt. S&P downgraded its rating from B to CC.

As part of the deal, some 2028 loans will be converted into priority loans maturing in 2030.

MultiPlan also secured a $350 million revolving credit facility, extending its maturity from August 2026 to December 2029.

The stock surged as much as 82% following the refinancing news.

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3. 5,000 Starbucks Workers on Strike

Starbucks Workers United announced today that over 5,000 Starbucks employees in New York, Boston, and Philadelphia are striking, affecting more than 300 stores.

The union, representing employees at over 500 stores, claims Starbucks is unwilling to grant immediate wage increases.

The strike began on December 20 in cities including Chicago, Los Angeles, and Seattle, before spreading nationwide. Yesterday, more than 60 stores temporarily closed.

Starbucks stated on its website that over 10,000 company-owned stores remain open as usual.

The strike follows failed labor negotiations between the company and union representatives.

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4. British Airways Considers Starlink WiFi

British Airways parent company IAG SA is in commercial talks with Elon Musk’s Starlink to equip its aircraft with Starlink WiFi.

IAG has not yet finalized a provider and is also considering Amazon’s Project Kuiper.

IAG’s head of innovation, Annalisa Gigante, stated that discussions with both Starlink and Project Kuiper are ongoing, with a major announcement expected next year.

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5. Lyft Sues San Francisco Government

Ride-hailing company Lyft has sued the San Francisco government, alleging that the city improperly included driver earnings in its revenue calculations over the past five years, leading to $100 million in overpaid taxes.

Lyft argues that between 2019 and 2023, San Francisco counted total passenger payments as company revenue, despite Lyft’s model only earning commission fees from drivers.

Lyft is seeking a refund of the overpaid taxes, plus interest and penalties.

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6. Air Taxi Firm Lilium Avoids Bankruptcy

Struggling air taxi startup Lilium announced today that a consortium of European and North American investors will acquire its key subsidiary assets, providing a critical lifeline for the company.

On December 20, Lilium laid off all employees, but the new investors plan to rehire them.

Under German bankruptcy law, Lilium will not receive direct acquisition funds. The deal is expected to close early next month, pending creditor approval.

Last month, Lilium filed for bankruptcy and put all assets up for sale.

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7. China Yovole Considers U.S. IPO

Chinese cloud computing and data center provider Yovole is planning a U.S. IPO after failing to secure a listing in mainland China, sources say.

Yovole, backed by Beijing-based alternative asset manager CDH Investments, is working with advisors on a potential IPO, targeting a fundraising goal of over $100 million. It may submit its application as early as January.

Founded in 2001, Yovole provides cloud data center services and operates in Beijing, Shanghai, Guangzhou, and Shenzhen.

Its clients include Alibaba, Tencent, and UnionPay.

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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.