Grounded Jet Airways shares plummet over 24% in one month; market valuation erodes by Rs 451.26 cr to Rs 1,409 cr
5 years, 7 months ago

Grounded Jet Airways shares plummet over 24% in one month; market valuation erodes by Rs 451.26 cr to Rs 1,409 cr

Firstpost  

In one month, shares of Jet Airways tumbled 24.28 percent to Rs 124.10 on the BSE Friday from Rs 163.90 on 18 April New Delhi: Shares of Jet Airways have fallen over 24 percent in one month since the cash-starved airline suspended operations. Jet Airways witnessed top-level exodus earlier this week, with four senior executives, including chief executive Vinay Dube and his deputy Amit Agarwal, quitting the crisis-hit airline. In late March, Jet Airways founder Naresh Goyal along with his wife Anita Goyal as well as Etihad Airways’ nominee director Kevin Knight stepped down from their respective positions following a debt-recast plan. Abu Dhabi-based Etihad Airways submitted its bid to acquire a minority stake in Jet Airways with a lot of riders that involved finding more investors, leaving little hope for the airline’s survival.

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History of this topic

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 …

Jet Airways Gets Renewal of Its Air Operator Certificate From DGCA
1 year, 5 months ago

Jet Airways Gets Renewal of Its Air Operator Certificate From DGCA

News 18  

Jet Airways on Monday got a renewal for the Airport Operator Certificate from the Directorate General of Civil Aviation, the company said in a press release. The applicant Jalan-Kalrock Consortium was confident that this renewal will pave the way for the grounded passenger carrier to revive its services in India The renewal of AOC revalidates the confidence of the aviation …

Subramanian Swamy withdraws from Supreme Court his 2013 plea against Jet-Etihad Airways deal
2 years ago

Subramanian Swamy withdraws from Supreme Court his 2013 plea against Jet-Etihad Airways deal

The Hindu  

BJP leader Subramanian Swamy on January 6 withdrew from the Supreme Court his 2013 plea seeking quashing of an alliance between Jet Airways and the Abu Dhabi-based Etihad Airways. Now there is no Jet, no Etihad," Mr. Swamy told a Bench of Justices M. R. Shah and C. T. Ravikumar. "The petitioner challenges such arbitrary, irrational and malafide act of …

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 relaunch hits turbulence: CEO confirms salary cut, leave without pay
2 years, 1 month ago

Jet Airways relaunch hits turbulence: CEO confirms salary cut, leave without pay

Hindustan Times  

Once a celebrated airline, Indian carrier Jet Airways has hit another roadblock ahead of its relaunch, leaving many of its employees with reduced salaries and on leave without pay. ‘Team working to revive’ Clearing the air about numbers and figures circulating on the internet, Kapoor said that only a small portion of the total employees – less than 10 per …

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 …

Kalrock-Jalan cleared to restart Jet
3 years, 6 months ago

Kalrock-Jalan cleared to restart Jet

The Hindu  

The National Company Law Tribunal, Mumbai, on Tuesday approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for the revival of Jet Airways two years after the airline shut down operations due to a cash crunch. “The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil …

Jet Airways Shares Jump 5% Amid Reports Claiming Bid Win by Consortium
4 years, 3 months ago

Jet Airways Shares Jump 5% Amid Reports Claiming Bid Win by Consortium

News 18  

Shares of Jet Airways on Thursday gained nearly 5 per cent amid reports that a consortium has won the bid for the company. The stock rose by 4.89 per cent to close at Rs 30.05 — which was also its upper circuit limit — on BSE. A clarification was also sought by BSE from Jet Airways regarding reports about the …

Govt weighs dropping debt condition in Air India sale: Report
4 years, 3 months ago

Govt weighs dropping debt condition in Air India sale: Report

Live Mint  

India is proposing to drop a condition that the winning bidder for Air India Ltd. will have to take on $3.3 billion of aircraft debt, people with knowledge of the matter said, as the government struggles to sell the loss-making carrier kept afloat by taxpayer-funded bailouts. A renewed attempt to sell Air India, which hasn’t made money since 2007, has …

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines
4 years, 5 months ago

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines

News 18  

Jet Airways, which is undergoing an insolvency resolution process, has acquired ownership of six Boeing aircraft along with engines, according to a regulatory filing. As per the filing, a buyout option was exercised whereby the company made payment of USD 13,000,000 to acquire ownership of six aircraft and engines. "One of the end-uses contemplated by the NCLT order is that …

Airline shares tumble up to 14 pc; IndiGo hits 52-week low
4 years, 9 months ago

Airline shares tumble up to 14 pc; IndiGo hits 52-week low

India TV News  

Airline stocks plunged into deep red on Friday due to the ongoing travel restrictions in the wake of coronavirus outbreak. InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875. In the afternoon session, the Sensex was trading higher by 937 points or 2.86 per cent …

Airline shares tumble as global travel restrictions hit investor sentiment
4 years, 9 months ago

Airline shares tumble as global travel restrictions hit investor sentiment

India TV News  

Airline stocks faced heavy headwinds on Thursday as concerns over enhanced travel restrictions amid spreading of coronavirus infections rattled investor sentiment. Shares of IndiGo, SpiceJet and the defunct Jet Airways were deep in the red in the morning trade, with SpiceJet slumping over 18 per cent. InterGlobe Aviation, the parent of the country's largest airline IndiGo tumbled 10 per cent …

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, …

Govt discusses Air India’s sale with nine companies
4 years, 11 months ago

Govt discusses Air India’s sale with nine companies

Live Mint  

Indian officials met with as many as nine companies during roadshows to gauge interest in a stake sale in the nation’s loss-making flag carrier, people with knowledge of the matter said. Officials from the South Asian nation met executives of companies including British Airways parent IAG SA, IndiGo, India’s biggest airline that’s operated by InterGlobe Aviation Ltd., SpiceJet Ltd. as …

Air India sale: India discusses with nine companies, including IndiGo, Tata Sons and IAG
4 years, 11 months ago

Air India sale: India discusses with nine companies, including IndiGo, Tata Sons and IAG

Live Mint  

Indian officials met with as many as nine companies during roadshows to gauge interest in a stake sale in the nation’s loss-making flag carrier, people with knowledge of the matter said. Officials from the South Asian nation met executives of companies including British Airways parent IAG SA, IndiGo, India’s biggest airline that’s operated by InterGlobe Aviation Ltd., SpiceJet Ltd. as …

Air India sale: Emirates not interested in buying stake in national carrier, says report; Dubai-based airline focused on organic growth
4 years, 11 months ago

Air India sale: Emirates not interested in buying stake in national carrier, says report; Dubai-based airline focused on organic growth

Firstpost  

In 2018, the government had tried to sell a 76 percent stake in Air India and offload about $5.1 billion of its debt, terms that potential buyers at the time viewed as too onerous. After the government said on Monday that it plans to sell its entire stake in Air India, Dubai-based airline Emirates on Tuesday said it was not …

Air India sale: Govt to sell 100% stake in national carrier with 17 March deadline for EoI submissions; all eyes on suitors
4 years, 11 months ago

Air India sale: Govt to sell 100% stake in national carrier with 17 March deadline for EoI submissions; all eyes on suitors

Firstpost  

While many industry veterans are bullish on investor interest for Air India, some of the sector experts said that it may not be easy given the current business environment globally. A document inviting expressions of interest in Air India, released on Monday, said the governent would sell a 100 percent stake in the carrier, which operates both domestic and international …

Jet Airways crisis: Debt-laden airline plans to sell Netherlands business to KLM; deal not to impact company's shareholding pattern
4 years, 11 months ago

Jet Airways crisis: Debt-laden airline plans to sell Netherlands business to KLM; deal not to impact company's shareholding pattern

Firstpost  

The insolvency resolution professional managing the affairs of Jet Airways said various options are being explored for the company’s resolution and maximising the value for its stakeholders. New Delhi: Bankrupt Jet Airways plans to sell its Netherlands business to KLM Royal Dutch Airlines, according to a regulatory filing. The insolvency resolution professional managing the affairs of Jet Airways said various …

Deals Buzz: Government to invite bids for Air India privatization
5 years, 3 months ago

Deals Buzz: Government to invite bids for Air India privatization

Live Mint  

Mumbai: Mint brings you your dose of the top deals news, reported from newsrooms across the country Government to invite bids for Air India privatization The government will soon invite bids to sell its entire stake in Air India, after potential buyers baulked at an initial attempt to divest a partial stake in the national carrier, Mint reported citing a …

Jet Airways stake sale: Will grounded airline be left with just one bidder? Russian fund Treasury RA Creator may be disqualified, says report
5 years, 3 months ago

Jet Airways stake sale: Will grounded airline be left with just one bidder? Russian fund Treasury RA Creator may be disqualified, says report

Firstpost  

Russian fund Treasury RA Creator did not provide enough information about itself to Jet Airways’ insolvency resolution professional The number of bidders for grounded airline Jet Airways is getting fewer and fewer. Russian fund Treasury RA Creator did not provide enough information about itself to Jet Airways’ insolvency resolution professional nor did it deposit the mandatory amount required to seek …

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug
5 years, 4 months ago

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug

Firstpost  

The bankruptcy court had on 20 June appointed Ashish Chhawchharia as RP, who late last month had floated EoIs for Jet Airways that stopped flying mid-April. Mumbai: The lenders to the defunct Jet Airways Monday for the third time extended the deadline for submission of expressions of interest for stake sale in the bankrupt airline to 31 August after a …

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 crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities
5 years, 4 months ago

Jet Airways crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities

Firstpost  

Etihad acquired a 24 percent stake in Jet Airways in 2013, at a time when the carrier had needed significant financial support. Dubai: Abu Dhabi’s Etihad Airways said on Monday it will not express interest in reinvesting in Jet Airways because of unresolved issues concerning the Indian airline’s liabilities. Etihad acquired a 24 percent stake in Jet Airways in 2013, …

No longer interested in Jet Airways, says Anil Agarwal
5 years, 4 months ago

No longer interested in Jet Airways, says Anil Agarwal

Live Mint  

Mumbai: Chances of a revival of Jet Airways Ltd faded, with billionaire Anil Agarwal’s Volcan Investment, which had submitted an expression of interest for the grounded airline, deciding not to pursue the matter. Jet Airways’ lenders, who have been trying to sell the airline as a going concern for the past five months, had received three EoIs on Saturday—from Volcan, …

Jet’s liabilities prevented Etihad from lodging EoI
5 years, 4 months ago

Jet’s liabilities prevented Etihad from lodging EoI

Live Mint  

Mumbai: Etihad Airways PJSC, which owns a 24% stake in Jet Airways Ltd, on Monday said it declined to lodge an expression of interest for its grounded partner due to unresolved issues concerning the Mumbai-based airline's liabilities. "Etihad remained engaged in the process, but despite the endeavours of everyone involved there remained very significant issues relating to Jet’s previous liabilities," …

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies
5 years, 4 months ago

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies

Live Mint  

Lenders to grounded Jet Airways Ltd have received expressions of interest from Anil Agarwal’s family trust, Panama-based fund Avantulo Group and a Russian firm, two people aware of the development said on the condition of anonymity. Access to prime slots at key airports, a stake in a profitable frequent flyer programme and a few relatively old planes appear to be …

SpiceJet posts record profit of Rs 262 cr in June quarter, Jet Airways downfall provides boost
5 years, 5 months ago

SpiceJet posts record profit of Rs 262 cr in June quarter, Jet Airways downfall provides boost

Firstpost  

Shares in SpiceJet and InterGlobe Aviation-owned IndiGo have soared 55% and 31% respectively this year, as the companies raced to fill in prime airport slots vacated by Jet Airways. Bengaluru: Indian budget airline SpiceJet on Friday posted its biggest-ever quarterly profit of Rs 261.7 crore, as it flew more passengers and raised fares in the wake of the collapse of …

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July
5 years, 5 months ago

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July

Firstpost  

Last month, JetAirways’ creditors, led by State Bank of India, took the airline to the bankruptcy court after failing to agree on a revival plan New Delhi: Lenders to Jet Airways will open bids to sell the bankrupt airline on 20 July as they look to recover about 85 billion rupees of loans, two sources familiar with the matter said …

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied
5 years, 6 months ago

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied

Live Mint  

New Delhi: A Twitter user gave an interesting advice to Mahindra group chairman Anand Mahindra. The user under the name of Lalit Mathpal suggested the tycoon buy the debt-ridden Jet Airways and name it Mahindra Airways. He has 7.03 million followers on Twitter The downfall of Jet Airways illustrates the challenge of making money in India's aviation sector, dominated by …

Jet Airways shares dwindle further; tank 18.5 per cent
5 years, 6 months ago

Jet Airways shares dwindle further; tank 18.5 per cent

India TV News  

Shares of Jet Airways further plummeted 18.5 per cent Wednesday after the consortium of bankers took the grounded airline to the NCLT. This is the 13th consecutive trading day fall for Jet Airways, which has tumbled 78 per cent during this period. Jet Airways, started over 25 years ago, stopped flying on April 17 after it ran out of cash …

Jet Airways crisis: Lenders' consortium picks Grant Thornton as resolution professional for cash-strapped airline
5 years, 6 months ago

Jet Airways crisis: Lenders' consortium picks Grant Thornton as resolution professional for cash-strapped airline

Firstpost  

The bankers to Jet Airways on Tuesday moved the National Company Law Tribunal to recover their dues of over Rs 8,500 crore. After the consortium of 26 bankers led by State Bank of India took Jet Airways to the National Company Law Tribunal to recover their dues, the lenders reportedly picked Ashish Chhawchharia of Grant Thornton India as the resolution …

Jet Airways shares plummet 41% to close at Rs 40.45 as troubled airline lands in NCLT
5 years, 6 months ago

Jet Airways shares plummet 41% to close at Rs 40.45 as troubled airline lands in NCLT

Firstpost  

New Delhi: Jet Airways’ shares faced massive drubbing on Tuesday and tumbled nearly 41 percent after State Bank of India-led consortium of lenders decided to send the grounded airline to the National Company Law Tribunal. This the 12th consecutive trading day fall for Jet Airways and the scrip has plunged over 73 percent during this time, wiping out Rs 1,253.5 …

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 …

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 shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June
5 years, 6 months ago

Jet Airways shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June

Firstpost  

The scrip of Jet Airways tanked 16.76 percent to close at Rs 68.30 on the BSE. New Delhi: Shares of Jet Airways plunged 18 percent Monday as stock exchanges last week decided to impose restrictions on its trading from 28 June. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive surveillance …

Jet Airways shares continue to face massive selling pressure; tumble over 18% to hit a multi-year low of 67.05
5 years, 6 months ago

Jet Airways shares continue to face massive selling pressure; tumble over 18% to hit a multi-year low of 67.05

Firstpost  

New Delhi: Shares of Jet Airways continued the downward trend, plunging over 18 percent on Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from 28 June. The scrip which has been tumbling for the 11th consecutive day further plummeted 18.28 percent to hit a multi-year low of 67.05 on the BSE. Stock exchanges will …

Jet Airways shares continue downward trend; tank 15% after stock exchanges decide to impose trading restrictions
5 years, 6 months ago

Jet Airways shares continue downward trend; tank 15% after stock exchanges decide to impose trading restrictions

Firstpost  

New Delhi: Shares of Jet Airways further plunged nearly 15 percent on Friday after stock exchanges decided to impose restrictions on its stock trading from 28 June earlier this week. Shares of Jet Airways had on Thursday also cracked nearly 18 percent. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive …

Jet Airways shares continue downward trend, tank 15% after stock exchanges impose restrictions
5 years, 6 months ago

Jet Airways shares continue downward trend, tank 15% after stock exchanges impose restrictions

India TV News  

Shares of Jet Airways further plunged nearly 15 per cent on Friday after stock exchanges decided to impose restrictions on its stock trading from June 28 earlier this week. Shares of Jet Airways had on Thursday also cracked nearly 18 per cent. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive …

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 tumble nearly 18% after bourses announce trading restrictions from 28 June
5 years, 6 months ago

Jet Airways shares tumble nearly 18% after bourses announce trading restrictions from 28 June

Firstpost  

New Delhi: Shares of Jet Airways on Thursday cracked nearly 18 percent after stock exchanges decided to impose restrictions on its stock trading from 28 June. Jet Airways shares have been falling for ninth consecutive days, tumbling 39 percent on the BSE. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive …

Jet Airways shares tank over 23% after bourses announce trading restrictions
5 years, 6 months ago

Jet Airways shares tank over 23% after bourses announce trading restrictions

India TV News  

Shares of Jet Airways Thursday cracked over 23 percent after stock exchanges decided to impose restrictions on its stock trading from June 28. On the NSE, shares plummeted 23.30 percent to hit a multi-year low of Rs 84.60. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb …

AdiGroup still interested in Jet Airways, but will wait only 48 hours: Report
5 years, 6 months ago

AdiGroup still interested in Jet Airways, but will wait only 48 hours: Report

Live Mint  

In a final push to revive the now grounded Jet Airways, London-based AdiGroup has again evinced interest in Jet Airways. According to industry insiders, the AdiGroup which was one of the unsolicited bidder for Jet is still interested to form a partnership with Etihad to operate the now grounded airline. The development comes after Jet's scrip continued to slip following …

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 shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts
5 years, 6 months ago

Jet Airways shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts

Firstpost  

Jet Airways’ scrip tumbled 10.58 percent to close at Rs 111.95 on the BSE. During the day, it plunged 14.41 percent to Rs 107.15 – its 52-week low New Delhi: Shares of Jet Airways Tuesday plummeted nearly 11 percent amid reports that Hinduja Group and Etihad Airways may not proceed with plans to resurrect the debt-ridden airline. According to a …

Jet Airways crisis: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%
5 years, 6 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, 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 — …

Air India could post over Rs 7,600 crore loss in 2018-19, highest so far
5 years, 6 months ago

Air India could post over Rs 7,600 crore loss in 2018-19, highest so far

India TV News  

In what could make Air India sale an uphill task for the government, the national carrier could report highest-ever loss of over Rs 7,600 crore in financial year 2018-19 on account of low fleet utilization and high fuel prices among others. In order to sweeten the deal for Air India this time, the government is likely to offer entire 100 …

Two operational creditors take Jet to NCLT, hearing on June 13
5 years, 6 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 …

With Jet Airways being non-operational, opportunities narrowing in Indian aviation market: Star Alliance CEO
5 years, 7 months ago

With Jet Airways being non-operational, opportunities narrowing in Indian aviation market: Star Alliance CEO

Firstpost  

Full service carrier Jet Airways, which had a significant number of international flights, temporarily suspended operations in April after running out of cash. Seoul: India is a big aviation market and Air India provides the important domestic network for our members but opportunities in the market are narrowing with Jet Airways being non-operational, Star Alliance CEO Jeffrey Goh said on …

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