Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets
5 years, 11 months ago

Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets

Live Mint  

New Delhi: Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said. The sources said the lenders are actively considering proposals, including from Air India, for utilising the planes owned by Jet Airways. Also, while the lenders have nominated A K Purwar and Kapil Kaul to the board of Jet Airways consequent upon stepping down of the promoters, this is yet to take effect on account of some technical reasons," another source said. "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 EOI and have been issued bid documents on April 16," they had said in a statement.

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History of this topic

‘Victims of circumstance’: Air India says aircraft shortage woes to go on for 4-5 years
3 days ago

‘Victims of circumstance’: Air India says aircraft shortage woes to go on for 4-5 years

Hindustan Times  

Air India CEO Campbell Wilson said that global aircraft shortage which is hampering the airline's growth will go on for four to five years more. An Air India plane This comes as supply snags hobble aircraft production at the world's top jetmakers Boeing and Airbus, news agency Reuters reported. This is because Boeing is recovering from a near two-month crippling …

Jet Airways liquidation: Why India needs a new regime to save airlines
4 months, 1 week 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, 1 week 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 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 …

Rakesh Jhunjhunwala’s new airline may give Boeing a chance to regain lost ground
3 years, 7 months ago

Rakesh Jhunjhunwala’s new airline may give Boeing a chance to regain lost ground

The Hindu  

Billionaire Rakesh Jhunjhunwala’s plan to launch an ultra-low-cost airline, could give plane maker Boeing a chance to regain lost ground after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say. Mr. Jhunjhunwala, known as “India’s Warren Buffett” for his successful stock investments, plans to team up with former CEOs of IndiGo, the country’s …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 8 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, 8 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 …

Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021
4 years, 2 months ago

Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021

News 18  

The COVID-19 pandemic had a massive impact on the Indian aviation sector in 2020 and major airlines facing losses and challenging times laid off employees, sent them on leave without pay, or cut their salaries. The government, meanwhile, permitted special international passenger flights under Vande Bharat Mission since May and air bubble arrangements were formed with around 24 countries since …

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 Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines
4 years, 7 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 …

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, …

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 …

Jet Airways crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities
5 years, 7 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, …

Jet Airways’ $3bn debt scares away two potential investors
5 years, 7 months ago

Jet Airways’ $3bn debt scares away two potential investors

Al Jazeera  

The Indian airline owes more than $3bn to its lenders, lessors, staff and other suppliers. Creditors’ hopes of resurrecting India’s Jet Airways and salvaging some value from the bankrupt airline were dealt a fresh blow on Monday as two potential investors said they were no longer interested in putting money into the business. Separately, the United Arab Emirates’ Etihad said …

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies
5 years, 7 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 …

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July
5 years, 8 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, 8 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 Saga: Buyers await regulator's scrutiny of airline's flying license
5 years, 8 months ago

Jet Saga: Buyers await regulator's scrutiny of airline's flying license

India TV News  

Jet Saga: Buyers await regulator's scrutiny of airline's flying license With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its …

Jet Airways’ flying rights with 5 countries temporarily allocated to Air India: Government
5 years, 8 months ago

Jet Airways’ flying rights with 5 countries temporarily allocated to Air India: Government

Live Mint  

Bilateral flying rights with five countries, which were previously allocated to Jet Airways, have now been temporarily given to Air India till the end of the summer schedule of this year, Civil Aviation Minister Hardeep Singh Puri said Wednesday. As a result, the central government decided to temporarily allocate the domestic slots as well as international flying rights of Jet …

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 shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts
5 years, 9 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, 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 …

Government investigations into Jet Airways could derail revival plan
5 years, 9 months ago

Government investigations into Jet Airways could derail revival plan

Live Mint  

Mumbai: The government’s investigations into Jet Airways Ltd and its founder Naresh Goyal could derail plans of the Hinduja Group, Etihad Airways PJSC and Abu Dhabi's sovereign wealth fund Mubadala Investment Company’s plan to invest in the grounded Indian carrier, people with direct knowledge of the matter told Mint. Jet Airways' revival was still a long shot away since there …

SpiceJet shares jump more than 4% after airline's announcement to hire up to 2,000 staff of Jet Airways
5 years, 9 months ago

SpiceJet shares jump more than 4% after airline's announcement to hire up to 2,000 staff of Jet Airways

Firstpost  

SpiceJet has taken at least 22 planes that were earlier used by Jet Airways which temporarily shuttered its operations due to cash crunch in April. New Delhi: SpiceJet shares gained over 4 percent on Monday after the company said it plans to hire up to 2,000 staff including pilots and cabin crew of the defunct Jet Airways as the no-frills …

With Jet Airways being non-operational, opportunities narrowing in Indian aviation market: Star Alliance CEO
5 years, 9 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 …

Jet Airways staff seek aviation ministry’s help
5 years, 10 months ago

Jet Airways staff seek aviation ministry’s help

Live Mint  

Faced with the prospect of job loss, the employees of grounded Jet Airways knocked on the doors of government for helping to save the airline. We will try to meet Aviation Secretary Pradeep Singh Kharola and understand what government could do to protect our jobs," said a protesting employee working with the airline's engineering department. While lenders are vetting various …

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 …

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, 10 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 …

Jet Airways' top management quits: Where is cash-strapped airline headed to with all old-timers having exited?
5 years, 10 months ago

Jet Airways' top management quits: Where is cash-strapped airline headed to with all old-timers having exited?

Firstpost  

The C-Suite might have waited on till 10 May, hoping that a new owner coming in would want to resurrect Jet Airways immediately, which would require their expertise and their long-standing knowledge of the working of the company. This followed the unsuccessful bidding process for the stake sale in the airline which was conducted by SBI Caps on behalf of …

Jet's revival hope sinks as lenders struggle to find investor
5 years, 10 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 …

Air India gets Jet’s unused foreign traffic rights
5 years, 10 months ago

Air India gets Jet’s unused foreign traffic rights

Live Mint  

New Delhi: State-run Air India seems to be finally getting its preferential rights in allocation of traffic rights over foreign routes after losing it to private carriers in the previous UPA government. The public sector airline has also been promised over 5,000 seats on India-Qatar route besides about 4,600 additional seats to and from London following the re-allocation of grounded …

Jet Airways revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer
5 years, 10 months ago

Jet Airways revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer

Firstpost  

The fund offer from Etihad Airways is not sufficient to overcome the liquidity crunch in Jet Airways as its total liabilities are reportedly about Rs 15,000 crore now. With the uncertainty persisting about the takeover of cash-strapped Jet Airways, lenders to the temporarily grounded airline are reportedly planning to approach unsolicited bidders as former strategic partner Etihad Airways has declined …

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: Etihad Airways bid in cash-strapped airline comes as a sign of relief but hinges on finding another partner
5 years, 10 months ago

Jet Airways crisis: Etihad Airways bid in cash-strapped airline comes as a sign of relief but hinges on finding another partner

Firstpost  

Etihad’s bid for Jet Airways is a sort of a surprise as it has run up $4.8 billion worth of losses over the past three years The tension was palpable. No one knows yet the terms set out by Etihad Airways with respect to investing in Jet Airways, given the bid is yet to be assessed. Etihad said, “Etihad Airways …

Jet Airways crisis: Etihad Airways submits binding bid; State Bank of India says it has received two unsolicited bids
5 years, 10 months ago

Jet Airways crisis: Etihad Airways submits binding bid; State Bank of India says it has received two unsolicited bids

Firstpost  

State Bank of India said on Friday that it has received two unsolicited bids for ailing Jet Airways, and “one” more is expected by the end of the day, keeping the hopes for the revival of the grounded carrier alive, nearly a month after the debt-laden airline was forced to ground all operations due to funding troubles. Etihad Airways is …

Two unsolicited bids received for Jet Airways, one binding bid expected by day-end: SBI chief Kumar
5 years, 10 months ago

Two unsolicited bids received for Jet Airways, one binding bid expected by day-end: SBI chief Kumar

Live Mint  

The State Bank of India has received two unsolicited bids for cash strapped Jet Airways Ltd., while another bid is expected before the end of the day, the bank’s chairman Rajnish Kumar said on Friday. Kumar, who didn’t elaborate the names of the bidders, added that a binding bid is expected from one of the four interested parties that had …

Jet Airways employees bid may be heard as others waver
5 years, 10 months ago

Jet Airways employees bid may be heard as others waver

Live Mint  

Mumbai: A bid being stitched together by pilots of the grounded Jet Airways India Ltd may get a hearing if no binding offers emerge from the four potential investors currently in the race, people with knowledge of the matter said. SBI Capital Markets Ltd, which is advising Jet Airways’s lenders, has received at least three unsolicited approaches, one of the …

Civil Aviation Minister seeks report on allocation of airport slots vacated by Jet Airways to other airlines
5 years, 10 months ago

Civil Aviation Minister seeks report on allocation of airport slots vacated by Jet Airways to other airlines

Firstpost  

Jet Airways has more than 440 slots at Mumbai and Delhi airports, New Delhi: Civil Aviation Minister Suresh Prabhu has sought a report on the allocation of airport slots vacated by Jet Airways to other airlines, an official source said on Wednesday. According to the source, the minister has asked Civil Aviation Secretary Pradeep Singh Kharola for a report on …

Air India plan to induct Jet’s Boeing 777 planes stalls
5 years, 10 months ago

Air India plan to induct Jet’s Boeing 777 planes stalls

Live Mint  

Air India Ltd’s plan to lease five Boeing Co. 777 aircraft of Jet Airways Ltd has hit a roadblock as the biggest lender to the grounded airline has still to respond to the offer. “We have submitted our plans to State Bank of India and we are yet to hear from them,” said a senior Air India official, requesting anonymity. …

Air India earmarks ₹500 crore to get grounded aircraft operational
5 years, 10 months ago

Air India earmarks ₹500 crore to get grounded aircraft operational

Live Mint  

Mumbai: To meet high demand and raise its market, national carrier Air India has earmarked ₹500 crore to get 19 of its grounded passenger jets back into operations. However, an increase in demand due to the peak travel season along with industry's capacity constraint has led the airline to earmark at least ₹500 crore for the grounded fleet. But we …

Now, employees and regular flyers come up with a plan to give Jet Airways wings
5 years, 10 months ago

Now, employees and regular flyers come up with a plan to give Jet Airways wings

Live Mint  

New Delhi: After a section of employees floated the proposal to take over management control of the grounded Jet Airways and arrange up to ₹3,000 crore from external investors, a group of frequent flyers of the cash-strapped airline has approached the key lenders, including State Bank of India, ICICI Bank and Punjab National Bank, to submit the 'Revival of Jet …

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks
5 years, 10 months ago

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks

Firstpost  

Unfortunately for Jet Airways employees, there is nothing to leverage with the grounded airline’s net worth in the negative. A group of Jet Airways employees, who had earlier offered to take over the distressed airline, met SBI Caps officials on Thursday to discuss the proposal. SBI Caps told the Jet Airways employees that their proposal would be considered only after …

Jet Airways shares plunge 22.5%, hit 1-year low amid reports hint at lack of interest among bidders to follow up EoI
5 years, 10 months ago

Jet Airways shares plunge 22.5%, hit 1-year low amid reports hint at lack of interest among bidders to follow up EoI

Firstpost  

Jet Airways ceased operations on 17 April after months of financial difficulties and multiple attempts at saving the oldest private sector airliner failed. New Delhi: Shares of Jet Airways plunged 22.5 percent on Thursday amid a report that bidders for Jet Airways so far appear uninterested in following up on their expressions of interest. Investors deserted the Jet Airways counter …

Jet Airways bailout plan: Employees' consortium to bid for cash-strapped airline; seeks to raise Rs 3,000 cr from outside investors
5 years, 10 months ago

Jet Airways bailout plan: Employees' consortium to bid for cash-strapped airline; seeks to raise Rs 3,000 cr from outside investors

Firstpost  

This is the first time that employees have come together with a proposal to run the more than 25-year-old Jet Airways New Delhi: As uncertainty continues over the fate of the shuttered Jet Airways, an employees’ consortium has proposed to take over the airline with at least Rs 3,000 crore expected from outside investors for the bid, according to two …

Employees' consortium to bid for Jet Airways; seeks to raise Rs 3,000 crore from outside investors
5 years, 10 months ago

Employees' consortium to bid for Jet Airways; seeks to raise Rs 3,000 crore from outside investors

India TV News  

Employees' consortium to bid for Jet Airways; seeks to raise Rs 3,000 crore from outside investors As uncertainty continues over the fate of the shuttered Jet Airways, an employees' consortium has proposed to take over the airline with at least Rs 3,000 crore expected from outside investors for the bid, according to two staff unions. As uncertainty continues over the …

Jet employees' consortium writes to SBI, seeks permission to bid for crisis-hit airline
5 years, 10 months ago

Jet employees' consortium writes to SBI, seeks permission to bid for crisis-hit airline

India Today  

As uncertainty continues over the fate of the shuttered Jet Airways, an employees' consortium has proposed to take over the airline with at least Rs 3,000 crore expected from outside investors for the bid, according to two staff unions. Two associations representing pilots and engineers -- SWIP and JAMEVA -- have written to State Bank of India Chairman Rajnish Kumar …

Jet Airways CEO tells staff no word from promoters, banks on salaries
5 years, 10 months ago

Jet Airways CEO tells staff no word from promoters, banks on salaries

Live Mint  

In a clear indication of lack of support from the lenders on further funding, Jet Airways chief executive Vinay Dube has said it is painful that there is no commitment on the part of the all stakeholders on paying salaries to the employees which are due in a few days. The airline suspended operations after the SBI-led consortium of lenders …

Downfall of Jet Airways: Banks had seen writing on the wall with over a billion dollars to be paid back, but yet acted too late
5 years, 10 months ago

Downfall of Jet Airways: Banks had seen writing on the wall with over a billion dollars to be paid back, but yet acted too late

Firstpost  

Jet Airways had over a billion dollars to pay back to banks, and that should have been reason enough for the latter to consider taking more interest and a pro-active approach, but they did not. Editor’s note: This is part of a multi-article series on the downfall of Jet Airways and the path ahead for the cash-strapped airline. Had the …

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