IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit
1 year, 2 months 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 and other assets. The insolvencies of Jet Airways and Go First underscore the enduring challenges in the Indian aviation industry – high costs, low profits, fierce competition, and a lack of scale. Go First filed for IBC protection in May 2023, blaming Pratt & Whitney engine failures for its financial woes, but has struggled to attract a viable resolution plan owing to legal challenges from lessors.

Airline Ibc Jet Airways  insolvency  airlines  working  bfsi  jet  airline  profits  experts  challenges  resolve  airways  mint  bansal  summit  cant  ibc  bankruptcies  owing

History of this topic

Bankrupt airline Go First's liquidation plea approved by law tribunal
Trending News
2 months, 1 week ago

Bankrupt airline Go First's liquidation plea approved by law tribunal

India Today  

The National Company Law Tribunal has ordered the liquidation of Go First airline, according to multiple media reports. A NCLT bench, led by Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, granted the liquidation petition filed by the airline’s Committee of Creditors, reported Bar and Bench. Go First’s lenders decided to liquidate the bankrupt budget carrier’s assets in …

Mint Explainer: The Cape Town connection to the Jet Airways, Go First insolvencies
4 months, 2 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
4 months, 2 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
4 months, 2 weeks 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
4 months, 2 weeks 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 …

Mint Quick Edit | Jet Airways’ failed take-off: An IBC let-down
4 months, 2 weeks ago

Mint Quick Edit | Jet Airways’ failed take-off: An IBC let-down

Live Mint  

Revival hopes for Jet Airways received a mortal blow on Thursday as the Supreme Court ordered its liquidation. Since the non-operational airline’s acquisition bid-winner Jalan Kalrock Consortium had failed to infuse ₹350 crore as an initial tranche and meet other obligations under a resolution plan, the apex court said it was left with “no choice but to send Jet Airways …

Supreme Court orders liquidation of debt-ridden Jet Airways
4 months, 3 weeks 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: A wake-up call for India’s insolvency code
4 months, 3 weeks 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 …

Jet Airways grounded for good as Supreme Court orders liquidation
4 months, 3 weeks 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 …

Go First bankruptcy | Crisis in the skies
1 year, 10 months ago

Go First bankruptcy | Crisis in the skies

India Today  

The May 2 decision of Go First, India’s third-largest carrier, to suspend flights for two days—later extended till May 19—caught fliers, the aviation regulator and the Centre totally off guard. The company has cited the long delays in sourcing airworthy engines from the US aerospace major Pratt & Whitney as the reason behind the decision to go for insolvency, but …

Airfares may go up as Go First goes off air, files for insolvency
1 year, 10 months ago

Airfares may go up as Go First goes off air, files for insolvency

Deccan Chronicle  

NEW DELHI: No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday. Bogged down by an acute financial crunch due to grounding of more than half of its fleet amid P&W engine supply …

Jet Airways revival hits new snag as banks push back on funding
2 years, 3 months 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, 10 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 …

Jet Airways to Resume Domestic Operations in Q1 of 2022
3 years, 6 months ago

Jet Airways to Resume Domestic Operations in Q1 of 2022

The Quint  

As per London-based Jalan Kalrock Consortium, the winning bidder for Jet Airways, the airline will begin its domestic operations, as well as short-haul international flights by the first quarter of 2022, and third and fourth quarter of 2022, respectively. Murari Lal Jalan, who is the Lead Member of the Jalan Kalrock Consortium and the proposed Non-Executive Chairman of Jet Airways …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 9 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 …

Jalan Kalrock Consortium expects to restart Jet Airways in 4-6 months after NCLT nod
4 years, 1 month ago

Jalan Kalrock Consortium expects to restart Jet Airways in 4-6 months after NCLT nod

Live Mint  

Jalan Kalrock Consortium, the winning bidder for Jet Airways, expects to restart operations of the defunct airline in four to six months after receiving approval from the NCLT for its resolution plan. Against the backdrop of the National Company Law Tribunal likely to take a final call on the resolution plan for the airline, the winning consortium's lead member Murari …

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert
4 years, 5 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 revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
5 years, 1 month 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, …

As liquidation threat looms, Jet Airways bidders still not ready
5 years, 1 month 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 …

Jet Airways signs pact with KLM to liquidate Netherlands assets
5 years, 2 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 …

How bankruptcy got redefined in India
5 years, 3 months ago

How bankruptcy got redefined in India

Live Mint  

Mumbai: On 16 December, the day it closed its acquisition of Essar Steel India Ltd, ArcelorMittal SA, the world’s largest steel company and the new owner of the steel mill, held a closing party at The Oberoi in Mumbai. Evolution of IBC When Standard Chartered Bank and State Bank of India filed insolvency proceedings against Essar Steel in August 2017, …

Jet Airways crisis: Lenders mull liquidation of grounded airline after EoIs attract no major bidder, CoC may meet this week
5 years, 7 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 …

Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal
5 years, 8 months ago

Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal

Live Mint  

New Delhi: Delhi High Court on Tuesday refused to grant urgent relief to founder of Jet Airways Naresh Goyal, and sought response from the Centre on his plea to travel abroad. The circular against Goyal was issued by the corporate affairs ministry after it found several irregularities in the airline company, following which Goyal and his wife were offloaded from …

NCLT to next hear Jet Airways case on 23 July
5 years, 8 months ago

NCLT to next hear Jet Airways case on 23 July

Live Mint  

The Mumbai bench of the National Company Law Tribunal on Friday said that it will hear the insolvency case against Jet Airways Ltd. and next progress report by the insolvency resolution professional, who have been approved by the court to oversee the insolvency proceedings of the airline, on 23 July. The court-appointed IRP for Jet Airways, Ashish Chhawchharia of Grant …

Jet staff get on board a new partner to bid for bankrupt airline
5 years, 9 months ago

Jet staff get on board a new partner to bid for bankrupt airline

Live Mint  

Employees of Jet Airways Ltd and London-based investor Adi Partners LLP on Friday said they will jointly bid for a 75% stake in the debt-laden airline, which is facing bankruptcy proceedings. The platform, comprising Adi Partners and a Jet employees’ consortium, will explore taking control of the airline through the National Company Law Tribunal process, and then seek to revive …

Insolvency proceedings initiated against debt-ridden Jet Airways; NCLT bench instructs resolution professional to file fortnightly progress report
5 years, 9 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, 9 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, 9 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, 9 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 into bankruptcy process, stock soars 150%
5 years, 9 months ago

Jet Airways into bankruptcy process, stock soars 150%

India TV News  

Jet Airways into bankruptcy process, stock soars 150% Jet Airways Thursday became the first domestic airliner to go into bankruptcy as the NCLT admitted an insolvency petition filed by State Bank on behalf of 26 lenders, sending its share price soaring a whopping 150 percent after having plumbed life-lows for many days. Jet Airways on Thursday became the first domestic …

Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings
5 years, 9 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 …

Jet Airways crisis: SBI-led lenders file for grounded airlines' bankruptcy; hearing from Wednesday
5 years, 9 months ago

Jet Airways crisis: SBI-led lenders file for grounded airlines' bankruptcy; hearing from Wednesday

Firstpost  

Mumbai: The consortium of 26 bankers led by State Bank Tuesday took the grounded Jet Airways to the National Company Law Tribunal to recover their dues of over Rs 8,500 crore. Jet Airways, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on 17 April after it ran out of cash and the unpaid lessors took away most …

Investors continue to dump Jet Airways shares; tank 15% after lenders decide to move airline to NCLT
5 years, 9 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, 9 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 slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court
5 years, 9 months ago

Jet Airways slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court

Firstpost  

Exactly two months ago, Jet Airways took the decision to ground their flights after running out of cash. To be honest, the banks have been as clueless about their approach towards Jet Airways as the cash-strapped airline has been since the time they defaulted on the loans. So, SBI came out stating, “no problem, we will soon find a buyer …

Jet Airways crisis: SBI-led consortium gives up revival bid, votes for bankruptcy court to recover Rs 8,000 cr dues
5 years, 9 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 lands in NCLT as banks give up on revival
5 years, 9 months ago

Jet Airways lands in NCLT as banks give up on revival

Deccan Chronicle  

Mumbai: A consortium of banks led by the State Bank of India has referred the debt-laden Jet Airways to the National Company Law Tribunal for bankruptcy proceedings after negotiations with Etihad Airways and Hinduja Group did not fructify. "After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid …

Lenders to take Jet Airways to NCLT, revival hope gets bleaker
5 years, 9 months ago

Lenders to take Jet Airways to NCLT, revival hope gets bleaker

India TV News  

Lenders to take Jet Airways to NCLT, revival hope gets bleaker The lenders will now approach the National Company Law Tribunal under the Insolvency and Bankruptcy Code to recover their dues of about Rs 8,500 crore. The future of the grounded Jet Airways just got a shade bleaker on Monday with the lenders, led by State Bank of India, deciding …

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival
5 years, 9 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, 9 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, 9 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: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%
5 years, 9 months ago

Jet Airways crisis: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%

Firstpost  

Promoters of Hinduja Group expressed concerns over ongoing government investigations into Jet Airways and insolvency pleas submitted by its creditors London-based Hinduja Group has reportedly decided to halt negotiations for buying a stake in now-grounded Jet Airways while Abu Dhabi-based Etihad Airways has put its plan on hold to invest further, a media report said. Promoters of Hinduja Group expressed …

Jet Airways crisis: Two operational creditors drag debt-laden airline to NCLT, next hearing on 13 June
5 years, 9 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, 9 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, 9 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 …

Crisis-hit Jet airways may find its saving grace this week
5 years, 10 months ago

Crisis-hit Jet airways may find its saving grace this week

India Today  

Crisis-hit airline Jet Airways could find its saving grace this week as Indian conglomerate Hinduja Group is expected to place a bid for the airline, backed by minority shareholder Etihad Airways and founder Naresh Goyal. The Hinduja Group has fixed a meeting with Etihad Airways on May 23, where discussions will be held in order to revive the airline which …

Jet Airways CEO Vinay Dube quits: With top executives deserting ailing airline, is there any hope left for its revival?
5 years, 10 months ago

Jet Airways CEO Vinay Dube quits: With top executives deserting ailing airline, is there any hope left for its revival?

Firstpost  

With the top level management throwing in the towel today, is now clear that there is no future for Jet Airways. Is the resignation of three top executives at Jet Airways the last nail in the beleaguered airline’s coffin? On Tuesday evening, Vinay Dube, CEO, Jet Airways, Amit Agarwal, deputy CEO and Chief Financial Officer, and Rahul Taneja, Chief People …

Jet Airways lenders to reach out to unsolicited bidders
5 years, 10 months ago

Jet Airways lenders to reach out to unsolicited bidders

Live Mint  

Lenders to Jet Airways Ltd will begin reaching out to unsolicited bidders for the grounded airline after existing shareholder Etihad Airways PJSC declined to raise its stake beyond the current 24%, said two people aware of the development, requesting anonymity. Etihad said also that it is interested in re-investing in a minority stake in Jet Airways subject to conditions that …

Jet Airways crisis: Lenders keen on resolution outside insolvency law framework in case bidding process fails
5 years, 11 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, …

Discover Related