Jet's scrip crash over 10% on fears of takeover failure
- Jun 11, 2019
- 36 likes
Mumbai, June 11 (IANS) Jet Airways scrip plunged on Tuesday following reports of breakdown in talks between the Hinduja Group and Etihad for a stake sale of the now grounded airline. Additionally, the stocks were impacted by reports that Jet's vendors approached the National Company Law Tribunal (NCLT) on Mo...
Jet hijack scare: Mumbai businessman gets lifer, Rs 5 cr fine
- Jun 11, 2019
- 16 likes
Ahmedabad, June 11 (IANS) In the first conviction under the amended anti-hijacking law, a special National Investigation Agency (NIA) court on Tuesday sentenced a Mumbai-based businessman with a life term and a fine of Rs 5 crore for creating a hijack scare on a Mumbai-Delhi bound Jet Airways flight on Octob...
It's now Jet versus Jet as endgame nears (Lead)
- Jun 08, 2019
- 22 likes
BY NIRBHAY KUMAR New Delhi, June 8 (IANS) Even as the lenders and the employees hope against hope and expect a white knight to rescue the grounded Jet Airways, the airline's promoter Naresh Goyal, now deboarded from the pilot seat, knew weeks back that it was time to abandon the sinking ship. Goyal's travel ...
Jet Airways 'not in position' to declare Q4 results
- May 30, 2019
- 27 likes
Mumbai, May 30 (IANS) The grounded Jet Airways said, here on Thursday, it was not in a position to declare the quarterly results owing to the ongoing bidding process and resignations of employees and directors. In a regulatory filing, the company said, In view of the ongoing bidding process undertaken by ...
Joint bid for Jet Airways innovative but complicated: Experts
- May 22, 2019
- 37 likes
New Delhi, May 22 (IANS) With conventional solutions remaining elusive for the grounded Jet Airways, industry experts see a joint bid for the airline by strategic and financial investors as a viable option wherein risks can also be hedged. There are cases where management buy-outs are happening. The employe...
Section of Jet staff seeks financial details to raise $700 mn
- May 18, 2019
- 37 likes
New Delhi, May 18 (IANS) A section of grounded Jet Airways' employees comprising members of airline unions have written to SBI Caps seeking asset and other financial details of the crisis-hit company for raising $700 million (Rs 4,917 crore) from a mix of domestic and foreign investors. SBI Caps is the trans...
Clarity on Jet Airways expected in a week: SBI chief
- May 18, 2019
- 28 likes
New Delhi, May 18 (IANS) It may not be over till it is over. Even as some industry veterans believe that grounded Jet Airways may have hit the end of the road, State Bank of India (SBI) Chairman Rajnish Kumar remains optimistic that clarity over the future course of the airline will emerge in a week's time. ...
Setback for IndiGo, Jet's unused flight quota to be shared equitably
- May 17, 2019
- 33 likes
By Nirbhay Kumar New Delhi, May 17 (IANS) Unimpressed by IndiGo's suggestion to allot grounded Jet Airways' unused slots in proportion to the fleet size of rival carriers, the government has decided to give higher seat quota on foreign routes to the carriers launching flights on unserved sectors or those wit...
Jet saga: Now, Etihad's nominee on Jet board resigns
- May 17, 2019
- 26 likes
New Delhi, May 17 (IANS) Grounded full service carrier Jet Airways' continues to lose its senior management level personnel, further damaging hopes of the airline's revival. The latest to quit the company is Robin Kamark, the UAE-based Etihad Airways' nominee on the Board of the grounded airline. We wish to...
Jetcraft Launches Industry’s First New and Pre-Owned Market Forecast
- May 16, 2019
- 22 likes
Jetcraft, the global leader in business aircraft sales and acquisitions, is releasing a 5-Year New & Pre-Owned Business Aviation Market Forecast – the first of its kind to predict both new and pre-owned aircraft transactions. The new forecast anticipates 11,765 pre-owned transactions over the next five yea...
Jet's lenders to get bids verified, open to joint bid
- May 16, 2019
- 21 likes
By Rohit Vaid Mumbai, May 16 (IANS) Grounded Jet Airways' lenders plan to get all bids legally verified before beginning negotiations with interested parties. According to informed sources, lenders have a limited number of options to recover their outstanding dues worth Rs 8,400 crore. They might also try to...
Jet CFO, Deputy CEO Amit Agarwal quits
- May 14, 2019
- 25 likes
New Delhi, May 14 (IANS) Grounded Jet Airways continues to lose its senior executives dashing hopes of the airline's revival. The latest to quit the company is its Chief Financial Officer (CFO) and Deputy Chief Executive (CEO) Amit Agarwal. The exit comes days after the airline's top executive Gaurang Shetty...
Jet Saga: Etihad sends in binding bid for Jet Airways (Roundup)
- May 10, 2019
- 24 likes
Mumbai, May 10 (IANS) Moments before the window for submitting binding bids closed, Abu Dhabi-based Etihad Airways gave its conditional bid for the grounded Jet Airways emphasising that it cannot be the sole investor. The official deadline for submission of binding bids ended at 6 p.m. on Friday. A 24 per ...
SBI's exposures to IL&FS, Jet provided for: Chairman
- May 10, 2019
- 22 likes
Mumbai, May 10 (IANS) State-run State Bank of India (SBI) has an exposure of about Rs 1,600 crore in Jet Airways which adds just 7 basis points (bps) to the bank's gross non-performing assets (NPAs or bad loans) SBI Chairman Rajnish Kumar said on Friday, dismissing the country's largest lender's exposure in ...
Jet Saga: Etihad sends in binding bid for Jet Airways
- May 10, 2019
- 25 likes
Mumbai, May 10 (IANS) UAE-based Etihad Airways has sent in a binding bid for Jet Airways though its details have not been disclosed before the official deadline of 6 p.m. ended on Friday. Etihad currently has 24 per cent stake in the temporarily grounded Jet Airways. On its part, the UAE-based airline said t...
EPFO issues notice to Jet for not remitting employee dues
- May 10, 2019
- 18 likes
By Nirbhay Kumar New Delhi, May 10 (IANS) Grounded Jet Airways' troubles seem to be mounting each passing day. The Employee's Provident Fund Organisation (EPFO) has now served a show-cause notice to the airline for not remitting provident fund and other allied dues in various employee accounts. In a letter t...
SFIO probe likely into Jet Airways' 'fund diversion'
- May 09, 2019
- 33 likes
New Delhi, May 9 (IANS) The Ministry of Corporate Affairs (MCA) is likely to ask Serious Fraud Investigation Office (SFIO) to probe the alleged fund diversion and writing off of investments by Jet Airways. The fresh investigation follows recommendation given by MCA's Mumbai regional office after inspecting t...
RoC submits report on Jet Airways' books to ministry
- May 08, 2019
- 31 likes
By Anjana Das New Delhi, May 8 (IANS) The Registrar of Companies (Mumbai) has submitted the inspection report of the beleaguered Jet Airways' books to the Corporate Affairs Ministry which will shortly start examining the details. Action will be based on the inspection report of Jet Airways' books, a minist...
Goyal hopes for Jet's revival in letter to employees
- May 07, 2019
- 17 likes
Mumbai, May 7 (IANS) Jet Airways' ex-Chairman Naresh Goyal has penned another emotional letter to employees, reigniting hopes of reviving the now defunct airline. According to the letter accessed by IANS, Goyal has claimed to have made all possible sacrifices to keep the airline afloat. The former Chairman s...
AI won't take B777s from Jet, one sets off for Hong Kong (Lead)
- May 06, 2019
- 31 likes
By Nirbhay Kumar New Delhi, May 6 (IANS) State-run Air India has decided not to pursue its plan to take B777s from grounded Jet Airways as it has found it commercially not viable given the huge maintenance requirement. The engineering unit has done their work around the B777s and found no merit in taking th...
