As liquidation threat looms, Jet Airways bidders still not ready
4 years, 11 months ago

As liquidation threat looms, Jet Airways bidders still not ready

Live Mint  

Bankrupt carrier Jet Airways India Ltd., once the nation’s biggest by market value, faces fresh warning signs as a deadline to avoid liquidation looms. The two shortlisted bidders Synergy Group Corp. and Prudent ARC Ltd. had both submitted expressions of interest in January, but haven’t yet cobbled together bidding groups. Short of a court judgment to the contrary, creditors are mandated by India’s nascent bankruptcy law to push Jet Airways into liquidation if the bankruptcy process extends beyond 270 days from its admission on June 20, 2019. The 270-day period for Jet Airways is set to expire around March 16, limiting the time within which the airline can be sold outside of a liquidation process.

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History of this topic

Mint Explainer: The Cape Town connection to the Jet Airways, Go First insolvencies
1 month, 4 weeks ago

Mint Explainer: The Cape Town connection to the Jet Airways, Go First insolvencies

Live Mint  

The failure to revive two prominent Indian airlines—Jet Airways and Go First—has triggered a debate on the limitations of India’s Insolvency and Bankruptcy Code, particularly in addressing airline insolvencies. As it was with Jet Airways, Go First’s resolution process was marred by mismanagement, with lessors even filing contempt proceedings against the airline’s resolution professional, Shaildnea Ajmera, for allegedly damaging the …

Jet Airways liquidation: Why India needs a new regime to save airlines
1 month, 4 weeks ago

Jet Airways liquidation: Why India needs a new regime to save airlines

Live Mint  

Learning by doing is about the only way to master swimming, cycling or yoga, but does it apply to harnessing India’s Insolvency and Bankruptcy Code as well, particularly in the case of airlines? After Go Air, it is now Jet Airways’s turn to go into liquidation after an insolvency resolution process under IBC failed to sell the business as a …

Jet Airways' 1.43 lakh retail shareholders stare at wipeout after Supreme Court liquidation order
2 months ago

Jet Airways' 1.43 lakh retail shareholders stare at wipeout after Supreme Court liquidation order

Hindustan Times  

The 1.43 lakh retail shareholders of Jet Airways are now staring at a complete wipeout of their investments after the Supreme Court ordered the troubled airline's liquidation on Thursday, November 8, rejecting the Jalan Kalrock consortium’s takeover bid. Naresh Goyal, chairman of Jet Airways According to exchange data, retail investors currently own 19.29% of Jet Airways Ltd shares. This amounts …

Grounded, by process
2 months ago

Grounded, by process

Times of India  

Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of the day. As Supreme Court calls it curtains on Jet Airways, it’s another tragic tale of another short-lived star business and the challenges of sustaining airline ops in a competitive, high-cost environment. But the real concern is a …

Supreme Court orders liquidation of Jet Airways, sets aside NCLAT order
Trending News
2 months ago

Supreme Court orders liquidation of Jet Airways, sets aside NCLAT order

Firstpost  

Setting aside an order of the NCLAT, the Supreme Court has ordered the liquidation of Jet Airways Supreme Court has ordered the liquidation of Jet Airways. The Supreme Court on Thursday exercised its extraordinary constitutional powers and ordered the liquidation of grounded air carrier Jet Airways’ assets. A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala …

Supreme Court orders liquidation of debt-ridden Jet Airways
2 months ago

Supreme Court orders liquidation of debt-ridden Jet Airways

Hindustan Times  

The Supreme Court on Thursday ordered the liquidation of Jet Airways while setting aside the National Company Law Appellate Tribunal ruling that upheld the transfer of the defunct airline’s ownership to the Jalan-Kalrock Consortium under an approved resolution plan. Represented by advocates Debmalya Banerjee, Kartik Bhatnagar and Karanjawala & Co, JKC said it incurred significant losses, exceeding ₹600 crore, due …

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues
2 months ago

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues

The Hindu  

A three-judge Bench headed by Chief Justice of India D.Y. Justice J.B. Pardiwala, who authored the judgment, ordered the amount of ₹200 crore paid by Jalan Kalrock Consortium towards the initial tranche payment of ₹350 crore to the creditors to be forfeited. The court set aside the NCLAT direction to the lenders of Jet Airways to adjust the ₹150 crore …

Jet Airways liquidation: A wake-up call for India’s insolvency code
2 months ago

Jet Airways liquidation: A wake-up call for India’s insolvency code

Live Mint  

New Delhi: The Supreme Court’s decision ordering the liquidation of Jet Airways, once India’s leading airline, has provided sufficient fodder for bankruptcy experts urging for an overhaul of India’s insolvency framework. JKC’s repeated non-compliance with the terms of the resolution plan caused the value of the plan to diminish significantly," said Devesh Dubey, senior associate at Sanjay RPK Law, a …

Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan
2 months ago

Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan

Live Law  

The Supreme Court invoked its extraordinary powers under Article 142 of the Constitution to order the liquidation of Jet Airways in view of the "peculiar and alarming" circumstance that the resolution plan has not been implemented for five years.The Court set aside the NCLAT Order which allowed the cash-strapped Jet Airways' ownership transfer to the Successful Resolution Applicant. The Court …

Jet Airways grounded for good as Supreme Court orders liquidation
2 months ago

Jet Airways grounded for good as Supreme Court orders liquidation

India Today  

The Supreme Court's ruling on November 7 to liquidate Jet Airways effectively closed the chapter on attempts to revive the once-prominent Indian airline. With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court also set aside the National Company Law Appellate Tribunal order, which allowed …

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit
11 months, 4 weeks ago

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit

Live Mint  

The Insolvency and Bankruptcy Code can't resolve airline bankruptcies, according to RK Bansal, CEO and managing director of asset reconstruction company Edelweiss ARC. Speaking during a panel discussion titled ‘IBC and Banks: Challenges and Solutions’ at the Mint BFSI Summit and Awards 2024, Bansal highlighted a fundamental issue in the Indian aviation sector – most airlines don't own their planes …

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired
1 year, 7 months ago

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired

News 18  

Uncertainty continues over the revival of grounded Jet Airways as the validity of the airline’s air operator’s certificate expires on Friday. There was no word from the Jalan Kalrock Consortium, which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline’s flying permit. The Air Operator’s Certificate of the airline, which …

Jet Airways: Uncertainty deepens as Air Operator's Certificate expires
1 year, 7 months ago

Jet Airways: Uncertainty deepens as Air Operator's Certificate expires

India TV News  

The future of the grounded Jet Airways is still hanging in the air as the validity of the airline's air operator's certificate expires on Friday. The Air Operator's Certificate of the airline was revalidated on May 20 last year for a one-year period and the validity ended on Friday. There was no word from the Jalan Kalrock Consortium, which emerged …

Jet Airways revival hits new snag as banks push back on funding
2 years, 1 month ago

Jet Airways revival hits new snag as banks push back on funding

Live Mint  

Lenders to bankrupt Jet Airways India Ltd. are resisting a court-approved resolution plan, further delaying the former No. The primary dispute is about whether the new owners of Jet Airways need to pay more money into the pension funds of ex-employees, the people said, asking not to be identified because they’re not authorized to speak publicly about the matter. Banks, …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 8 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 6 months ago

Explained | What are the challenges Jet Airways faces before it can take off again?

The Hindu  

The story so far: Two years after Jet Airways — at the time India’s second-largest full-service airline — halted operations in 2019 as it ran out of cash, the carrier has a real chance at getting airborne again. When Jet Airways halted operations in 2019, the government distributed its airport slots among various other Indian carriers. At the time, the …

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert
4 years, 2 months ago

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert

ABP News  

It seems that troubles for the ailing Jet Airways isn’t getting over soon even as the committee of creditors has approved the airline's revival plan submitted by the Kalrock Capital-Murari Lal Jalan consortium. According to news agency PTI report, Kaul has said the "terms" accepted by the Jet Airways creditors did not make sense to CAPA.The committee of creditors has …

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline
4 years, 10 months ago

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline

Firstpost  

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday The Committee of Creditors of grounded airline Jet Airways decided to extend the deadline for submission of bids to 10 March on Tuesday as a new entity has evinced interest in the airline, according to a source. #aviation https://t.co/cJwhEuapr1 — CNBC-TV18 February 18, …

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
4 years, 10 months ago

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline

Firstpost  

The second bidder, South America-based Synergy Group, did not submit a plan for Jet Airways and the group reportedly sought clarity on slots in the domestic and international routes of the grounded airline. Even as Jet Airways’ Committee of Creditors is to meet today to decide on extending deadline to two suitors that have evinced interest in the grounded airline, …

Jet Airways signs pact with KLM to liquidate Netherlands assets
4 years, 11 months ago

Jet Airways signs pact with KLM to liquidate Netherlands assets

Live Mint  

Jet Airways Ltd has entered into a conditional sale and purchase agreement with KLM Royal Dutch Airlines to liquidate the assets of the bankrupt airline in the European country. Two local creditors--H Esser Finance Company and Wallenborn Transport --filed a petition against Jet Airways in April 2019, citing unpaid claims worth around ₹280 crore. In September 2019, the National Company …

Jet Airways fails to attract new bidders during extended deadline period; may go ahead with 3 entities who submitted EOIs: Report
5 years, 4 months ago

Jet Airways fails to attract new bidders during extended deadline period; may go ahead with 3 entities who submitted EOIs: Report

Firstpost  

With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier Mumbai: Grounded Jet Airways, which is undergoing insolvency proceedings, failed to attract any new bidders during the extended deadline period for submission of initial bids, according to a source. Russian Fund Treasury RA Partners, Panama-based investment firm Avantulo Group …

Jet Airways crisis: Lenders mull liquidation of grounded airline after EoIs attract no major bidder, CoC may meet this week
5 years, 4 months ago

Jet Airways crisis: Lenders mull liquidation of grounded airline after EoIs attract no major bidder, CoC may meet this week

Firstpost  

The decision of Abu Dhabi-based Etihad Airways to exit from the resolution plan of the crisis-hit airline has reportedly hastened Jet Airways’ liquidation process. The revival of grounded Jet Airways seems to be over with the debt-laden airline’s strategic partner Etihad Airways reportedly moving out of the resolution plan, said a media report. The decision of Abu Dhabi-based Etihad Airways …

Jet Airways quarterly results delayed amid 'complexities of issues'
5 years, 4 months ago

Jet Airways quarterly results delayed amid 'complexities of issues'

India TV News  

With the "complexities of issues" being faced by Jet Airways, financial results for the June quarter are yet to be finalised and the process is taking time, according to a communication. The affairs of Jet Airways, which closed down its operations on April 17, are now being managed by resolution professional Ashish Chhawchharia under the insolvency law. In the communication …

Insolvency proceedings initiated against debt-ridden Jet Airways; NCLT bench instructs resolution professional to file fortnightly progress report
5 years, 6 months ago

Insolvency proceedings initiated against debt-ridden Jet Airways; NCLT bench instructs resolution professional to file fortnightly progress report

Firstpost  

Jet Airways became the first domestic airliner to go into bankruptcy New Delhi: Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on 17 April and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal …

Insolvency proceedings initiated against Jet Airways
5 years, 6 months ago

Insolvency proceedings initiated against Jet Airways

India TV News  

Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on April 17 and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal admitted an insolvency petition filed by SBI on behalf of 26 lenders on …

How will Jet’s insolvency process play out?
5 years, 6 months ago

How will Jet’s insolvency process play out?

The Hindu  

The story so far: Jet Airways, the troubled private airline that has failed to meet its huge debt obligations, was admitted to the National Company Law Tribunal on Thursday. Mr. Goyal’s exit may give Jet’s lenders the confidence to infuse more money in case they decide to make the airline fully operational. Jet Airways is the first airline company in …

SBI chairman defends sending Jet Airways to bankruptcy court, says 'last effort' to find resolution
5 years, 6 months ago

SBI chairman defends sending Jet Airways to bankruptcy court, says 'last effort' to find resolution

Firstpost  

Jet Airways, which was grounded on 17 April, owes more than Rs 8,500 crore to a consortium of banks led by State Bank Mumbai: State Bank chairman Rajnish Kumar on Thursday defended the lenders’ decision to take Jet Airways for bankruptcy saying “it was their last effort to find a resolution” for the grounded airline and also did not rule …

Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings
5 years, 6 months ago

Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings

Firstpost  

Jet Airways owes over Rs 3,000 crore to its 23,000 employees who have not been paid since March and some of them like engineers and pilots were getting part salaries since last December. Mumbai: The pilots and engineers unions of Jet Airways and two Dutch logistics vendors to the grounded airline on Wednesday moved the NCLT seeking them to be …

Investors continue to dump Jet Airways shares; tank 15% after lenders decide to move airline to NCLT
5 years, 6 months ago

Investors continue to dump Jet Airways shares; tank 15% after lenders decide to move airline to NCLT

Firstpost  

New Delhi: Jet Airways stock tumbled nearly 15 percent on Tuesday after State Bank of India-led consortium of lenders decided to send the grounded airline to the National Company Law Tribunal. Harried bankers on Monday decided against an outright sale of Jet Airways to the lone bidder, and instead voted to send it for bankruptcy to recover their Rs 8,000 …

Banks Finally Take Jet Airways to Bankruptcy Court, But It May be Too Late to Save the Airline or Money
5 years, 6 months ago

Banks Finally Take Jet Airways to Bankruptcy Court, But It May be Too Late to Save the Airline or Money

News 18  

It is exactly two months to the day that Jet Airways ceased operations as India’s second largest airline by passengers. Since the airline had begun floundering some months before that fateful April day, the lenders’ consortium had been saying repeatedly that it will resolve the Jet mess outside the IBC process. But now, these same lenders may recover next to …

Jet Airways crisis: SBI-led consortium gives up revival bid, votes for bankruptcy court to recover Rs 8,000 cr dues
5 years, 6 months ago

Jet Airways crisis: SBI-led consortium gives up revival bid, votes for bankruptcy court to recover Rs 8,000 cr dues

Firstpost  

The Etihad-Hinduja consortium had reportedly shown interest in Jet Airways but not given a concrete proposal yet, forcing the lenders to take the NCLT plunge Mumbai: Harried bankers on Monday decided against an outright sale of Jet Airways to the lone bidder, instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues. The decision of the …

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival
5 years, 6 months ago

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival

Firstpost  

The bank said lenders have been making efforts to find a resolution for Jet Airways outside IBC but now have decided to seek a resolution within the IBC. Mumbai: State Bank of India-led consortium of lenders on Monday decided to send the now-grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete …

Jet Airways to be taken to bankruptcy court
5 years, 6 months ago

Jet Airways to be taken to bankruptcy court

The Hindu  

As six months of efforts to save one of the country’s leading airlines, Jet Airways, failed, the lenders have now decided to take it to the bankruptcy court, which will decide the future course of action. “Lenders have been taking efforts to find a resolution for Jet Airways outside the IBC, but in view of the above, they have decided …

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%
5 years, 6 months ago

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%

Firstpost  

Last week, the I-T Department summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case. Last week, the Income Tax Department had summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case, reported Business Today. Meanwhile, the shares of Jet Airways continued the downward …

Jet Airways crisis: NCLT asks operational creditors to again serve legal notices to airline, adjourns hearing to 20 June
5 years, 6 months ago

Jet Airways crisis: NCLT asks operational creditors to again serve legal notices to airline, adjourns hearing to 20 June

Firstpost  

The banks have appointed SBI Capital Markets as the investment banker to find an investor to scout investors for Jet Airways. By asking the two operational creditors — Shaman Wheels and Gaggar Enterprises — who have taken Jet Airways to NCLT, to again serve legal notices to the grounded airline, the tribunal is yet to admit the bankruptcy pleas. Jet …

Jet Airways shares plummet over 23% to an all-time low as stock exchanges set to impose trading restrictions
5 years, 6 months ago

Jet Airways shares plummet over 23% to an all-time low as stock exchanges set to impose trading restrictions

Firstpost  

Jet Airways shares tumbled to a fresh 52-week low of 84.80 on BSE. Its market capitalisation fell to Rs 986.03 crore with 15.61 lakh shares changing hands on BSE Shares of Jet Airways plummeted over 23 percent to an all-time low of Rs 84.80 on Thursday, a day after the National Stock Exchange of India said that shares of the …

Jet Airways crisis: Two operational creditors drag debt-laden airline to NCLT, next hearing on 13 June
5 years, 6 months ago

Jet Airways crisis: Two operational creditors drag debt-laden airline to NCLT, next hearing on 13 June

Firstpost  

The tribunal issued notices to Jet Airways and banks which own the airline now and posted the matter for further hearing on 13 June when it will decide on admitting or rejecting the bankruptcy pleas. Mumbai: In a major setback to the lenders’ revival/sale plan of the grounded Jet Airways, two operational creditors — Shaman Wheels and Gaggar Enterprises — …

Two operational creditors take Jet to NCLT, hearing on June 13
5 years, 7 months ago

Two operational creditors take Jet to NCLT, hearing on June 13

India TV News  

In a major setback to the lenders' revival/sale plan of the grounded Jet Airways, two operational creditors--Shaman Wheels and Gaggar Enterprises-- Monday moved the NCLT seeking bankruptcy proceedings against the airline. The tribunal issued notices to Jet Airways and banks which own the airline now and posted the matter for further hearing on June 13 when it will decide on …

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues
5 years, 7 months ago

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues

India Today  

Beleaguered airline Jet Airways has now landed at the NCLT. If the court accepts the plea, it could mark the end of the road for Jet Airways. The airline has a debt pile of over Rs 11,000 crore and all the investors who expressed the desire to invest in the airline have asked the banks to take a substantial haircut …

Jet's revival hope sinks as lenders struggle to find investor
5 years, 7 months ago

Jet's revival hope sinks as lenders struggle to find investor

India Today  

Mumbai-based airline Jet Airways hit another roadblock on Tuesday after four senior officials including the company's CEO Vinay Dube resigned. Meanwhile, the lenders of Jet Airways now face a stringent condition to prevent the temporarily grounded airline from becoming a non-performing asset. "Etihad re-emphasises that it cannot be expected to be the sole investor and that additional suitable investors would …

Jet Airways shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%
5 years, 8 months ago

Jet Airways shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%

Firstpost  

Shares of Jet Airways, which has shut down operations temporarily, continued to fall for the third day in a row on Monday, tumbling over 23 percent. New Delhi: Shares of Jet Airways Limited halted its three-day decline and surged 13 percent Tuesday on value buying at lower levels. On the traded volume front, 43.47 lakh shares of the company were …

Jet Airways crisis: Lenders keen on resolution outside insolvency law framework in case bidding process fails
5 years, 8 months ago

Jet Airways crisis: Lenders keen on resolution outside insolvency law framework in case bidding process fails

Firstpost  

Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival New Delhi: As they explore ways to recover debt, lenders of Jet Airways are in favour of a resolution outside the insolvency law framework in case the ongoing bidding process fails to take off, …

Jet Airways issues gag order over 20,000 employees, cautions talking to media will affect bidding process
5 years, 8 months ago

Jet Airways issues gag order over 20,000 employees, cautions talking to media will affect bidding process

Firstpost  

The grounding of India’s oldest private airline company sent shock waves among its 20,000-odd employees, of whom Jet Airways owes over three months salaries to 15 percent of the staff. The management of Jet Airways has reportedly asked thousands of its disgruntled employees to not speak to any outsider including their media about their problems as it may affect the …

The Most We Can Do Is Pass A Hat Around The Courtroom For Charity: Bombay HC CJ On Petition Seeking Jet Airways' Bailout
5 years, 8 months ago

The Most We Can Do Is Pass A Hat Around The Courtroom For Charity: Bombay HC CJ On Petition Seeking Jet Airways' Bailout

Live Law  

The Bombay High Court on Thursday dismissed a petition seeking a bailout of Jet Airways by a consortium of banks led by State Bank of India and "emergent funds by the government" for meeting day-to-day expenses. A bench of Chief Justice Pradeep Nandrajog and Justice NM Jamdar was hearing the petition filed by "frequent fliers" of the airline.Advocate Mathews Nedumpara …

Jet Airways lenders 'reasonably hopeful' of getting successful bids for grounded cash-strapped airline
5 years, 8 months ago

Jet Airways lenders 'reasonably hopeful' of getting successful bids for grounded cash-strapped airline

Firstpost  

Jet Airways still has a market capitalisation of about $400 million, as investors have clung to hopes of a rescue deal being clinched. Mumbai: Lenders to India’s Jet Airways Ltd said on Thursday they are “reasonably hopeful” that the bidding process for the grounded airline will end successfully. Jet Airways, once India’s largest private airline, on Wednesday evening halted all …

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured
5 years, 8 months ago

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured

Firstpost  

Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. 27 August: Jet posts June-quarter loss, …

Binding bids from investors to determine Jet Airways’ revival, say lenders
5 years, 8 months ago

Binding bids from investors to determine Jet Airways’ revival, say lenders

Live Mint  

Lenders to Jet Airways said on Thursday that they have decided, the best way forward for the survival of Jet Airways is to get the binding bids from potential investors. “The lenders after due deliberations decided that the best way forward for the survival of Jet Airways is to get the binding bids from potential investors who have expressed expression …

Jet Airways management said to propose temporary shutdown
5 years, 8 months ago

Jet Airways management said to propose temporary shutdown

Live Mint  

Mumbai/Bengaluru: The management of Jet Airways Ltd has proposed a temporary shutdown of the struggling airline, Indian media reported Tuesday, as the company awaits promised funds from banks in a rescue deal. Jet Airways shares fell as much as 18.3% to their lowest level since August 2015 following reports of a planned temporary shutdown, as the future of the once-dominant …

Jet Airways: Flights cancelled with Indian carrier on brink of total collapse
5 years, 8 months ago

Jet Airways: Flights cancelled with Indian carrier on brink of total collapse

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Indian carrier Jet Airways appears to be on the point of total collapse, with almost …

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