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☆ Oracle says it's seeing 'exploding AI demand' and Deutsche Bank touts one stock as a big beneficiary
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A surge in demand for artificial intelligence at Oracle should have a positive effect on Digital Realty Trust , Deutsche Bank said. Analyst Matt Niknam pointed to commentary from Oracle CEO Safra Catz around "exploding AI demand" and "unprecedented" demand for the company's cloud services. Niknam has a $112 price target on Digital Realty, which implies shares could rally about 8% from Tuesday's close. As a real estate investment trust, Digital Realty also pays a dividend yield of about 4.6%. Demand is picking up for AI offerings from Digital Realty despite the company not doing much related leasing activity to date, Niknam said.

Persons: Matt Niknam, Safra, Niknam, — CNBC's Michael Bloom Organizations: Oracle, Digital Realty Trust, Deutsche Bank, Safra Catz, Digital Realty Locations: Tuesday's

☆ Investors should expect Tesla to launch a full-scale financing arm as it tries to capture more of the auto market, Morgan Stanley says
▼ + stars: | 2023-06-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Investors can expect Tesla to soon offer its own options for financing, Morgan Stanley said. Analysts said it was time for the EV maker to create a subsidiary that finances retail sales. That could potentially draw in more customers as Tesla wages a price war against its rivals. That's something Tesla needs to incorporate into its business, especially if it plans on capturing more of the EV market, the analysts said. Other commentators remain bullish on the flagship EV-stock, particularly as Tesla strikes deals with other auto makers to open up its charging network.

Persons: Tesla, Morgan Stanley, —, it's, that's Organizations: Analysts, Service, Toyota, Honda, Ford, EV

☆ Avolon says $4 trln needed to transform global jet fleet
▼ + stars: | 2023-06-13 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakePARIS, June 13 (Reuters) - Global aviation needs $4 trillion of capital over the next 20 years to fund new commercial deliveries and transform the world's fleet, leasing firm Avolon said on Tuesday. The world's commercial passenger aircraft fleet is set to nearly double to 46,880 aircraft by 2042, the Dublin-based firm predicted. Environmental critics say such rapid growth of commercial aviation is at odds with its environmental objectives. Avolon has said the main focus should be on increasing the supply of Sustainable Aviation Fuels. Europe's Airbus will maintain leadership of the narrow-body market with its current 53% share of the fleet rising to 58% by 2042, Avolon predicted.

Persons: Mike Blake PARIS, Avolon, Tim Hepher, Conor Humphries Organizations: Delta Airlines, REUTERS, Global, . Airlines, Sustainable Aviation Fuels, Airbus, Boeing, Embraer, Thomson Locations: San Diego , California, U.S, Dublin, China

☆ India is now the most populous country in the world. And it’s ready to become a tourism force
▼ + stars: | 2023-06-13 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +9 min

A series of bold investmentsExperts say much of India’s outbound growth trajectory is being driven by improvements in infrastructure and an expansion in its aviation sector. Morgenshtern says the rise in outbound tourism from India is the result of investment not just by the government but by private airlines as well. Air India, for example, is fully owned by Indian conglomerate Tata Sons. As part of its efforts to expand its offerings, the company announced earlier this year it will be operating flights under both the Air India brand and Air India Express, having previously merged the latter with Tata’s other low-cost airline, AirAsia India. In February, Air India purchased nearly 500 new planes, the most ever bought in one order by a single airline.

Persons: Omri Morgenshtern, it’s, Gary Bowerman, It’s, Delhi’s Indira, Morgenshtern, Indira, Bowerman, Jyotiraditya Scindia, ”, “, Matthew Micah Wright, ” Morgenshtern, Arun Sankar, ” Bowerman, there’s Organizations: CNN, Reuters, Times, National Capital, Delhi’s Indira Gandhi International, Indira Gandhi International, Creative, Imaging, Air India, Tata Sons, Air India Express, AirAsia India, India, LCC, ”, Tata, US . Air India, Indigo, Civil Aviation, CAPA India Aviation Summit, Bank Locations: India, China, Noida, Jewar, Uttar Pradesh, Times of India, Delhi, Western Uttar Pradesh, Asia, ., India’s, Europe, Africa, Morgenshtern, France, Switzerland, Thailand, Malaysia, Indonesia, An, Vietnam, Southeast Asia, Singapore, Japan, Korea, Taiwan, Air China, Beijing, Shanghai, China Southern, Guangzhou, Northeast Asia

India has long expressed interest in buying large armed drones from the United States. U.S. negotiators are counting on Indian Prime Minister Narendra Modi's White House visit on June 22 to break the log jam. Modi and Biden are also expected to discuss co-production of munitions and ground vehicles, like armored personnel carriers, while Modi is in Washington, the sources said. The topic was expected to be on the agenda as Biden's national security adviser, Jake Sullivan, arrived in New Delhi on Tuesday to finalize preparations ahead of Modi's visit. The Quad grouping of countries - the United States, India, Australia and Japan - all operate, or have operated, the MQ-9B SeaGuardian.

Persons: Narendra Modi's, Biden, General Atomics, Modi, Spokespeople, Joe Biden, Jake Sullivan, Mike Stone, Trevor Hunnicuttt, Krishn Kaushik, Heather Timmons, Lisa Shumaker Organizations: WASHINGTON, Indian, U.S, U.S . State Department, Pentagon, White, Department of State, Biden, Thomson Locations: DELHI, Washington, New Delhi, U.S, India, United States, Russia, Ukraine, Australia, Japan

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Ulta, FedEx, Roblox, Netflix, Oracle & more
▼ + stars: | 2023-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs upgrades Devon Energy to buy from neutral Goldman said the energy company's valuation is attractive. Morgan Stanley initiates BAE Systems as buy Morgan Stanley said the aerospace and defense company has an "attractive capital deployment policy." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it expects Tesla to build a "full-scale captive financing subsidiary as the market matures." Morgan Stanley upgrades Urban Outfitters to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it has an attractive valuation. Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating on FedEx heading into earnings next week.

Persons: it's bullish, Goldman Sachs, Goldman, Salesforce, Piper Sandler, Piper, AIZ, Morgan Stanley, Canaccord, Roblox, Stone, Tesla Organizations: Bank of America, Netflix, Devon Energy, PayPal, JPMorgan, Deutsche Bank, Deutsche, BAE Systems, HSBC, Stone, Urban, Oracle, FedEx, UBS, Apple Locations: Devon

☆ Adam Neumann, the ousted CEO of WeWork, toyed with a rescue package for the company
▼ + stars: | 2023-06-12 | by ( Al Yoon | ) www.businessinsider.com time to read: +3 min

Adam Neumann made motions in October to invest in WeWork, The New York Times reported. Options for the company have been whittled down, and now include bankruptcy, The New York Times reported on Monday. One opportunity batted away by Mathrani came from Adam Neumann, who was pushed out as WeWork's CEO in 2019, the Times reported. The meeting, which was potentially to discuss an investment with other investors of as much as $1 billion and a debt buyback, didn't happen, the Times reported. More recently, IWG, a company that also offers work spaces for remote and hybrid workers, made an offer to operate WeWork's spaces, according to the Times.

Persons: Adam Neumann, Sandeep Mathrani, IWG, —, Mathrani, Neumann, JLL, WeWork, Trepp Organizations: The New York Times, Service, Times, WeWork Locations: WeWork, The

☆ Manhattan rents up 10% from a year ago
▼ + stars: | 2023-06-08 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

While rents are cooling in some parts of the United States, the cost to rent a Manhattan apartment hit a record high in May for the third month in a row. That’s up 10% from a year ago and up 3.6% from April, when rents were at a record high of $4,241. Over the past 18 months, rents have been consistently near or breaking record highs in Manhattan, said Jonathan Miller, president and CEO of Miller Samuel. A one-bedroom apartment had a median rent of $4,275 in May, up 7% from last year, while a two-bedroom apartment had a median rent of $5,400, up 8% from a year ago. For those looking for an apartment in New York City, expect more record high rents ahead.

Persons: Douglas Elliman, Miller Samuel, That’s, Jonathan Miller, “, ” Miller, —, Miller, ” Organizations: DC CNN, Federal Reserve, Brooklyn Locations: Washington, United States, Manhattan, Brooklyn, Queens, New York City

☆ Thousands are living in RVs on Los Angeles’ streets. Leaders want to shrink the number, but the solution is elusive
▼ + stars: | 2023-06-05 | by ( Nick Watt | ) edition.cnn.com time to read: +10 min

Los Angeles CNN —Early one recent Friday morning, sanitation workers, homeless-outreach workers and LAPD officers arrived on a little street in the west of Los Angeles. In Los Angeles, you are allowed to sleep in a vehicle on some streets. She was elected last year on a platform dripping with intent to handle the various homelessness issues plaguing Los Angeles. “We have not resolved the RV issue yet,” Mayor Karen Bass told The Los Angeles Times in March. And for now, for thousands of people, an RV’s roof over their heads is all they can afford in Los Angeles.

Persons: Anderson Cooper, Jasmine, ’ ”, LaTonya Smith, Traci Park, Joseph, ”, Smith, “ I’m, “ vanlords, “, ” Park’s, “ It’s, Dmitry Korikov, ” Korikov, Karen Bass, Bass, Joseph Center, ” Bass, RVs, ” Councilwoman Monica Rodriguez, ” Smith Organizations: Los, Los Angeles CNN, LAPD, Catholic Church, Joseph Center, “, CNN, “ Staff, Angeles County, American National Standards Institute, Fire Protection Association, ” CNN, Los Angeles Times, Los Angeles Homeless Services Locations: Los Angeles, Jasmine, RVs, Los Angeles County, St, Angeles, City, California, Russia, Ukraine, Venice

☆ Dozens of transgender people in Florida are crowdfunding to flee the state, and they've raised more than $200,000
▼ + stars: | 2023-06-04 | by ( Thalia Beaty | Associated Press | ) www.businessinsider.com time to read: +7 min

Dozens of transgender people in Florida are using crowdfunding to help them flee the state. In addition to banning gender-affirming care for transgender minors, the law places new restrictions on adults seeking treatment. Chelf began making plans to leave the state after Florida legislation caused her to lose access to gender affirming care. A marked increase in fundraisers to help trans people leave FloridaPeople have given more than $200,000 since January to fundraisers on GoFundMe started by trans people seeking to leave Florida, according to data from the platform. Sage Chelf shows her GoFundMe campaign to move out of Florida in Orlando, Fla., May 27, 2023.

Persons: —, Sage Chelf, Chelf, Laura Bargfeld, I'm, GoFundMe, Jalen Drummond, Ron DeSantis, Laura Bargfeld That's, Una Osili, Indiana University Lilly, Elise Colomer, it's, Jasmine Beach Organizations: Service, AP, Williams Institute, University of California, Los Angeles School of Law, Indiana University, Indiana University Lilly Family School of Philanthropy, Southern Equality Locations: Florida, GoFundMe . Florida, Fla, Orlando, Orlando Fla, Chelf, Cheadle, Illinois, Ferrara

☆ Airbus seeing more predictable industrial rhythm after delays
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, June 4 (Reuters) - European planemaker Airbus (AIR.PA) is seeing a more predictable pattern in its industrial activities and what appears to be the start of a more positive trend in deliveries, Chief Commercial Officer Christian Scherer said. We are seeing a steady increase in our ability to fly planes as they come out of the assembly line," he told Reuters, adding that Airbus was fully focused on operations following recent supply chain disruption. "The industrial rhythm seems to be a little more predictable," he said on the sidelines of an airlines meeting. "The pulse was not the same pulse across the supply chain but there seems to be more harmony now," he added. Airbus and rival Boeing have blamed faltering supply chains for recent delays in jet deliveries, with airlines and leasing companies complaining of erratic changes in schedules.

Persons: Christian Scherer, Scherer, Tim Hepher, Hugh Lawson Organizations: Airbus, Reuters, Boeing, International Air Transport Association, Thomson Locations: ISTANBUL

☆ A former FedEx driver who couldn't afford to invest in real estate the traditional way explains how he used 'Airbnb arbitrage' to acquire 25 rental units in less than 2 years
▼ + stars: | 2023-06-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

If you're looking to get into real estate but don't have a ton of capital, 'rental arbitrage' is an option. You sign a long-term lease and then rent out that property on short-term rental platforms like Airbnb. Nathan Turner used this strategy to set up his first Airbnb unit with $6,400. The Turners' upfront costs would include: first month's rent, a security deposit, and furniture. Between first month's rent, a $1,200 security deposit, and furniture, they spent about $6,400 and three weeks putting together their first Airbnb in 2021.

Persons: Nathan Turner, Turner, Taniera, wholesaling, Airbnb, they'd, we've, he's, it's, I've Organizations: FedEx, Turners, Houston Locations: Houston , Texas, Houston, Louisville, Des Moines

Today, Nico's Ice Cream includes two brick-and-mortar locations in Portland and pints sold in about 60 grocery stores across Oregon and Washington. Within a year, one ice cream cart became two brick-and-mortar locations, a Mexican restaurant and a cafe that closed almost as quickly as it opened. Most of that revenue — $473,000 — came solely from Nico's Ice Cream. One piece of equipment was particularly important: the ice cream blender, made by a Hope, New Zealand-based company called Little Jem. Vergara, working at one of his two Nico's Ice Cream locations.

Persons: Nico Vergara, Vergara, he'd, Jem Organizations: Zealand, CNBC, Cream, Apple Locations: New Zealand, Portland , Oregon, Portland, Oregon, Washington, Mexican, Zealand, Hope , New Zealand

☆ 23-year-old's food businesses bring in $650,000 a year: 'I’m a brown kid with tattoos and no college education, and I’m doing it'
▼ + stars: | 2023-06-02 | by ( Ashton Jackson Tom Huddleston Jr. Zachary Green | Ashton Jackson | Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

[Editor's note: This story has been updated to reflect that Nico Vergara worked at Zeds Real Fruit Ice Cream before launching his business. And it all started with a small New Zealand-style "real fruit" ice cream cart in Portland, Oregon. Vergara helped manage a business, Zed's Real Fruit Ice Cream, that used the machine before starting his own in 2021. Most of that revenue — $473,000 — came solely from Nico's Ice Cream. One piece of equipment was particularly important: the ice cream blender, made by a Hope, New Zealand-based company called Little Jem.

Persons: Nico Vergara, Vergara, he'd, Jem Organizations: CNBC, Cream, Apple Locations: New Zealand, Portland , Oregon, Portland, Oregon, Washington, Mexican, Zealand, Hope , New Zealand

☆ US bans new oil and gas leasing around New Mexico cultural site
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Tribes, conservationists and state officials have long called on the federal government to ban drilling in the area. Structures in the area date back thousands of years, and the park is listed as a World Heritage Site by UNESCO, the United Nations' cultural agency. It is aligned with his goal to conserve at least 30% of federal lands and waters by 2030. But, the Interior Department ban on new leasing on federal lands around Chaco will last for just 20 years and does not extend to private, state or tribal lands. Oil and gas industry groups have opposed withdrawing the lands around Chaco for leasing.

Persons: Read, Biden, Joe Biden, Biden's, Deb Haaland, Nichola Groom, Kim Coghill Organizations: Chaco Culture, Historic, UNESCO, United Nations, Interior Department, New, Congressional, Navajo Nation, U.S . Bureau of Land Management, Thomson Locations: Pueblo, Chaco, New Mexico, U.S, New Mexican, American, Laguna

☆ Matt Onofrio made $35 million helping everyday people invest in real estate. Then he was indicted. Was it all a scam?
▼ + stars: | 2023-06-01 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +21 min

The MMA fighter Michael Chandler, pictured with his wife, Brie Willett, bought a $16 million property from Matt Onofrio in 2021. Then, in November 2022, federal prosecutors indicted Onofrio on charges involving three deals he'd arranged in Minnesota the year before. The federal complaint doesn't involve the property Onofrio sold to Chandler. Unbeknownst to Hermann, Onofrio had already tied up the warehouse in contract for $4.75 million. "Matt was finding a deal for $4 million and selling it for $5 million," Stageberg said.

Persons: Matt Onofrio, anesthetist, who'd, Onofrio, Michael Chandler, Chandler, Brie Willett, Rick Diamond, Michael didn't, Matt, Brendan Johnson, he'd, fraudster, who's, Matthew Hermann, Hermann, he's, —, Anthony Vicino, unburden, Hermann countersued, Let's, Nick Stageberg, Stageberg, Vicino, couldn't, wasn't, Zacari Pennington, Brandon Turner, David Greene, Pennington, Brad Lea's, Ryan Pineda's, Alec McElhinny, Onofrio's, Greene, Ed Mylett, Mylett, Lily Ro Onofrio, Lea, Brittany Arnason, BiggerPockets, Cameron Cropsey, Scott Trench, Nicholas Perrone, Wild Organizations: Onofrio, CMT, Chandler, Wild Moose Ventures, Finance & Commerce, Mayo Clinic, Moose Ventures, Wild, Ventures Locations: Wisconsin, California, Sauk Rapids , Minnesota, Minnesota, Onofrio, Minneapolis, Mexico City, Mayo, Denver, Nashville, Church, Golden Valley , Minnesota, Macon , Georgia, Pennington

☆ Chinese star banker Bao Fan detained by country’s top anti-graft body, state media says
▼ + stars: | 2023-06-01 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The mysterious disappearance of Bao has sent a chill through financial markets and China’s tech sector. Shares in China Renaissance had plunged more than 20% until they were suspended from trading in early April. China Renaissance had previously revealed only that Bao was “cooperating in an investigation” being carried out by certain authorities in the country. The specific agencies handling Bao’s case include the CCDI’s international cooperation bureau and Beijing’s municipal anti-graft authorities, the Economic Observer said. Cong has been detained by anti-corruption authorities since September for matters related to his tenure at ICBC Financial Leasing, the Economic Observer said.

Persons: Bao Fan, Bao, didn’t, Mike Blake, dealmaker, Xi, Cong Lin Organizations: Hong Kong CNN, Economic Observer, Central Commission, CNN, Communist Party, China Renaissance, Analysts, China’s, Industrial, Commercial Bank of China, Financial Leasing Locations: Hong Kong, China, Bao, Laguna Beach , California, Dianping

NEW DELHI, May 30 (Reuters) - India's aviation watchdog has put on hold requests from lessors to repossess planes from Go First, as the airline's bankruptcy process imposes a freeze on assets which supersedes such requests, the regulator said in a court filing seen by Reuters. Lessors of Go First have locked horns with Go First and India's Directorate General of Civil Aviation (DGCA) to reclaim its planes for missed payments, filing as many as 40 requests with the watchdog to allow repossession. Go First's lessors include Standard Chartered's Pembroke Aircraft Leasing, SMBC, CDB Aviation's GY Aviation Leasing and BOC Aviation. India has ratified the treaty but the DGCA argued there was no local legislation enforcing it, rendering it ineffective. The DGCA filing said local laws "prevail over provisions of any international treaty that India is a signatory to".

☆ Small cap investing pioneer Chuck Royce told us how he's outperformed for more than 3 decades, and what he's buying now
▼ + stars: | 2023-05-29 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

But Chuck Royce, who has focused on investing in smaller companies for more than 50 years, did exactly that. "We were early in identifying this as a category for investing even before Russell showed up," he told Insider in a recent interview. Royce is the chairman of Royce Investment Partners, which manages $11.8 billion in assets — and 98% of that is invested in small caps. Big success with small capsDespite his deep roots in small-cap stocks, Royce didn't start out with a specific interest in smaller companies. Instead, after some early struggles, he found that buying high-quality smaller companies and putting together diversified portfolios was a good way to limit losses.

☆ A European startup airline said it bought an Airbus A380 to fly across the Atlantic starting next year despite other carriers ditching the jet due to high costs
▼ + stars: | 2023-05-29 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

European startup carrier Global Airlines has purchased its first plane — the Airbus A380 superjumbo. The plan differs from many other carriers that have been actively retiring the A380 due to high costs. A little-known startup carrier called Global Airlines has bought its first plane — the mammoth Airbus A380. The carrier announced the purchase on Monday, revealing the jet was acquired from German investment firm Doric Aviation. A few other carriers like Singapore Airlines and Lufthansa have also continued flying the A380 post-pandemic.

☆ Amazon employees plan to walk out and accused the company of 'actively accelerating' the climate crisis, leaked email shows
▼ + stars: | 2023-05-26 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

In the email, the organizing group encourages employee participation in the walkout by pointing out five areas of concern over Amazon's climate initiatives. Here's what the email says:Emissions that are rising: Amazon's emissions have increased 40%(!!) Partnering with Big Oil: AWS Al and machine learning are being used by Big Oil to greatly accelerate oil and gas discovery and extraction. Amazon launched the Climate Pledge in 2019, committing to reach net-zero carbon emissions by 2040. Partnering with Big Oil: AWS Al and machine learning are being used by Big Oil to greatly accelerate oil and gas discovery and extraction.

☆ A budget Canadian airline had 4 of its planes repossessed. Its CEO is blaming a conspiracy.
▼ + stars: | 2023-05-25 | by ( Bianca Giacobone | Taylor Rains | ) www.businessinsider.com time to read: +7 min

In March, lessor Airborne confiscated four of Flair Airlines' planes because of late payments. A low-cost Canadian upstart airline had four of its planes repossessed by New York-based aircraft lessor Airborne Capital on March 11, forcing the carrier to cancel multiple flights and leaving a trail of disgruntled passengers behind. Flair Airlines CEO Stephen Jones blamed "behind the scenes" scheming between the airline's competitors and Airborne Capital for the repossession of four of Flair's Boeing 737 planes. It's not the first time Flair has clashed with other Canadian airlines. US investment firm 777 Partners owns a 25% stake in Flair Airlines, which was cause for concern for the CTA.

Persons: Stephen Jones, Flair, We've, Jones, — Flair, It's, —, Tim Donovan, Donovan, Prince Edward Island Organizations: Airborne, Flair Airlines, Flair, Morning, Capital, Airborne Capital, Boeing, The Canadian Press, Air Canada, BOC Aviation, Financial, Ontario Superior Court of Justice, National Airlines Council of Canada, Canadian Transportation Agency, Partners, CTA, National Airlines Council, Easter, Airways Magazine, Bonza Airlines, Dominican Republic Locations: New York, North America, Canada, Titusville , New Brunswick, Toronto, Saint John , New Brunswick, Charlottetown, Ottawa, Montreal, Florida, Dominican

☆ Ryanair reports bumper profit on 'favorable' fuel hedges, sees major industry consolidation
▼ + stars: | 2023-05-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Ryanair reported a bumper full-year profit for 2022/23 on the back of resurgent traffic and favorable oil hedges. Ryanair on Monday posted a full-year net profit of 1.43 billion euros ($1.55 billion), aided by resurgent traffic and fares, along with favorable oil hedging positions. The Irish low-cost carrier reported a 74% increase in full-year traffic to 168.6 million customers, while fares were up 10% on pre-Covid levels. $64bbl) contributed significantly to the final FY23 profit outcome, saving the Group over €1.4bn," CEO Michael O'Leary said in Monday's earnings report. But he said Ryanair is confident it can cover the cost increase and grow profits "modestly" on a year-on-year basis.

☆ India appeals tribunal upholds Go First bankruptcy in setback for lessors
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, May 22 (Reuters) - An Indian appeals tribunal on Monday upheld insolvency proceedings against cash-strapped airline Go First, making it tougher for its lessors to repossess their aircraft. At least three leasing companies, including GY Aviation Lease and SMBC Aviation Capital, had challenged a tribunal ruling granting Go Airlines (India), widely known as Go First, bankruptcy protection earlier this month. The appeals tribunal said on Monday the National Company Law Tribunal will decide whether lessors who terminated their leases before the bankruptcy proceedings began can repossess their aircraft. Go First Chairman Varun Berry did not immediately respond to a Reuters request for comment. Reporting by Arpan Chaturvedi and Tanvi Mehta Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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