Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar
5 years, 7 months ago

Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar

Live Mint  

New Delhi: It may not be over till it is over. Even as some industry veterans believe that grounded Jet Airways may have hit the end of the road, State Bank of India Chairman Rajnish Kumar remains optimistic that clarity over the future course of the airline will emerge in a week's time. Private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund and Etihad Airways were shortlisted to submit their bids after they put forward their Expression of Interest. While the lenders are vetting various proposals, most of the top Jet executives, including its Chief Executive Officer, Chief Financial Officer and Company Secretary, have resigned from their respective positions citing personal reasons. Abu Dhabi-based Etihad Airways, which holds 24% stake in the crisis-hit Jet Airways, is currently the only solicited bidder for a stake in the airline.

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History of this topic

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer
8 months ago

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer

The Hindu  

The Supreme Court on Wednesday partly heard a State Bank of India-led consortium’s challenge to a decision of the National Company Law Appellate Tribunal to approve a resolution plan proposed by Jalan-Kalrock consortium for Jet Airways. Chandrachud, senior advocate Harish Salve, for the SBI consortium, said the situation has become a “nightmare” for the lenders. The lenders described the NCLAT …

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing
1 year, 7 months ago

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing

India TV News  

Alliance Air : Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd, a special-purpose vehicle formed by the central government. The finance ministry has approved an equity infusion 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 May Fly Again Early Next Year As New Management Takes Charge of Airline
4 years, 2 months ago

Jet Airways May Fly Again Early Next Year As New Management Takes Charge of Airline

News 18  

The much-awaited Jet Airways’ resolution is finally heading towards a success, with the resolution plan of Kalrock Capital and Murari Lal Jalan having been approved by the Committee of Crediors. Now, after the resolution process has been completed and the Kalrock-led consortium takes over the airline, the first task would be to retrieve its slots which were temporarily distributed among …

Jet Airways clarifies Kalrock Capital consortium did not win bid
4 years, 3 months ago

Jet Airways clarifies Kalrock Capital consortium did not win bid

Live Mint  

MUMBAI: Jet Airways on Thursday clarified that the consortium of Kalrock Capital and Murari Lal Jalan has not won the bid for the bankrupt airline. In a notification to the stock exchanges, the resolution professional of the stressed airline company said the committee of creditors has not concluded e-voting on the final resolution plans submitted by two shortlisted bidders. The …

Jet Airways insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%
4 years, 7 months ago

Jet Airways insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%

Firstpost  

Jet Airways insolvency resolution professional on Wednesday invited fresh expressions of interest for the grounded airline Mumbai: Jet Airways insolvency resolution professional on Wednesday invited fresh expressions of interest for the grounded airline. In March this year, the National Company Law Tribunal had allowed 90 days’ extension for the corporate insolvency resolution process of the airline. This came after the …

Jet Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March
4 years, 10 months ago

Jet Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March

Firstpost  

The decision to call for fresh bids was taken after a team from Russia’s Far East Asia Development Fund along with Enso Group met the CoC earlier this month and expressed interest in Jet Airways. Mumbai: Defunct airline Jet Airways’ Committee of Creditors has decided to issue fresh Expression of Interest for the carrier, which is undergoing insolvency proceedings, according …

Jet Airways lenders to seek fresh Expression of Interest for the carrier
4 years, 10 months ago

Jet Airways lenders to seek fresh Expression of Interest for the carrier

Live Mint  

Defunct airline Jet Airways' Committee of Creditors has decided to issue fresh Expression of Interest for the carrier, which is undergoing insolvency proceedings, according to a regulatory filing. "We wish to inform that the 8th CoC meeting of Jet Airways Ltd was held on February 18 and in the e-voting concluded on February 25, the CoC passed the resolution to …

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, …

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline
5 years ago

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline

Firstpost  

Earlier in June, the Hinduja Group had backed out of bidding for the Naresh Goyal-owned airline as they felt it was too risky for them to get involved due to the then ongoing government investigations and the insolvency pleas submitted by operational creditors at the NCLT, The Hinduja group is still keen to bid for the grounded airline, Jet Airways. …

Have no interest in Air India, only IndiGo: Qatar Airways CEO
5 years, 2 months ago

Have no interest in Air India, only IndiGo: Qatar Airways CEO

India TV News  

Qatar Airways has no interest in buying a stake in Air India, its CEO said on Thursday, as the government plans roadshows in Singapore and London to entice investors for the Indian national carrier's disinvestment. Qatar Airways CEO Akbar Al Baker added that he is interested in buying a stake in IndiGo but this is not the right time as …

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, …

Days after submitting EoI for Jet Airways, Vedanta's Anil Agarwal says not interested in debt-laden airline
5 years, 4 months ago

Days after submitting EoI for Jet Airways, Vedanta's Anil Agarwal says not interested in debt-laden airline

Firstpost  

In April, Etihad had presented a conditional expression of interest to reinvest in Jet Airways as a minority stakeholder, with a partner, but it did not materialise. Mumbai: In the second major setback to the lenders bid to revive the grounded Jet Airways by selling it out, billionaire businessman Anil Agarwal, a day after announcing interest in the airline, Monday …

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 …

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August
5 years, 5 months ago

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August

Firstpost  

Mumbai: State Bank of India, the lead lender to the bankrupt Jet Airways, on Wednesday moved an intervention application against mortgage lender HDFC’s plea claiming rights over a portion of the airline’s BKC property. On 4 July, the mortgage lender HDFC had moved the NCLT seeking to keep the airline’s BKC property out of the bankruptcy process saying three floors …

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 …

Jet staff get on board a new partner to bid for bankrupt airline
5 years, 6 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 …

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 …

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 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 …

Air India deal to be sweetened further with 100% stake offer
5 years, 7 months ago

Air India deal to be sweetened further with 100% stake offer

Live Mint  

New Delhi: Moving at jet speed, the two-stage bid process for selling of entire 100% equity stake in national carrier Air India could kickstart as early as 7 July. Multiple sources said that selling of Air India is the unfinished agenda of the previous government and now that they have made a comeback, the deal would be concluded this time. …

Unable to approve results: Jet
5 years, 7 months ago

Unable to approve results: Jet

The Hindu  

Jet Airways on Thursday informed the stock exchanges that it was not in a position to consider and approve audited financial results for the period ending March 31, owing to the ongoing bidding process and resignations of employees and directors. In a filing with the stock exchanges, the airline cited “ongoing bidding process undertaken by the domestic lenders for change …

Jet Airways revival: Asking banks to write off Rs 8,500-cr outstanding is unfairness at its worst
5 years, 7 months ago

Jet Airways revival: Asking banks to write off Rs 8,500-cr outstanding is unfairness at its worst

Firstpost  

There is no reason why the SBI-led lenders’ consortium should not prevail upon the new promoters to carry the dues as a liability in Jet Airways’ balance sheet with a moratorium period of, say 10 years. Be it Etihad Airways or the Hindujas or both teaming up and suitors before them, their common, almost reflex refrain, has been State Bank …

Etihad still hopeful of Jet take-off push
5 years, 7 months ago

Etihad still hopeful of Jet take-off push

India Today  

While the clouds of uncertainty still loom large over the future of Jet Airways, the Gulf carrier Etihad is still hopeful on reviving the grounded airline. In a statement to India Today, Etihad said, "Etihad continues to work directly with key stakeholders in India to help find a solution which would ensure Jet's return as a viable and competitive Indian …

Crisis-hit Jet airways may find its saving grace this week
5 years, 7 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, 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 …

Jet Airways revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer
5 years, 7 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 revival: Etihad Airways bids for minority stake in beleaguered airline; SBI-led lenders’ consortium, NIIF to get hit
5 years, 7 months ago

Jet Airways revival: Etihad Airways bids for minority stake in beleaguered airline; SBI-led lenders’ consortium, NIIF to get hit

Firstpost  

Etihad Airways’ decision to bid for Jet Airways could possibly be a way to preserve the bilateral it was given, as well as to protect its India feed. Etihad Airways PJSC’s bid for a minority stake in Jet Airways India is non-binding and subject to fulfillment of certain conditions by the temporarily grounded airline’s lenders, said two people aware of …

Jet Airways crisis: Etihad Airways bid in cash-strapped airline comes as a sign of relief but hinges on finding another partner
5 years, 7 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, 8 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 …

SBI has received 1 binding bid and 2 unsolicited bids for Jet Airways
5 years, 8 months ago

SBI has received 1 binding bid and 2 unsolicited bids for Jet Airways

India Today  

State Bank of India chairman Rajnish Kumar today ruled out the National Company Law Tribunal route for tje grounded Jet Airways airlines. In an exclusive chat with India Today TV, SBI chairman said, "It is the option when no option is left so NCLT is the last option." Etihad Airways PJSC, India's National Investment and Infrastructure Fund and private equity …

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks
5 years, 8 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 employees' consortium writes to SBI, seeks permission to bid for crisis-hit airline
5 years, 8 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 crisis: National Aviator's Guild urges Narendra Modi to ask SBI to release one month's staff salary
5 years, 8 months ago

Jet Airways crisis: National Aviator's Guild urges Narendra Modi to ask SBI to release one month's staff salary

Firstpost  

Jet Airways has not paid March salaries to its over 20,000 employees. Mumbai: The National Aviator’s Guild, which represents pilots of the grounded carrier Jet Airways on Saturday requested Prime Minister Narendra Modi to “direct” the airline’s lender State Bank of India to release one month’s salary of all the employees. In a late evening Letter to the respected Prime …

Jet Airways debacle: Satyam-style model worked with Tech Mahindra but will not be answer to cash-strapped airline's fortunes
5 years, 8 months ago

Jet Airways debacle: Satyam-style model worked with Tech Mahindra but will not be answer to cash-strapped airline's fortunes

Firstpost  

So much so, even if IndiGo, for example, agrees to take Jet Airways in its wide wings on merger, it would not be enough because the cash crunch would spread from Jet Airways to Indigo. Tech Mahindra has taken this in its stride just as it had the Enforcement Directorate freezing more than Rs 800 crore of fixed deposits as …

Jet Airways will do everything to revive airline: CEO
5 years, 8 months ago

Jet Airways will do everything to revive airline: CEO

India Today  

India's Jet Airways is constantly engaging with the government and lenders for a resolution of the current debt crisis and will not leave any stone unturned to revive the airline, its chief executive officer Vinay Dube told television channel ET Now in an interview. "But I would like to think that a flying Jet Airways makes definite sense for them …

Jet Airways revival at stake; shortlisted bidders find no value in parking funds in embattled airline
5 years, 8 months ago

Jet Airways revival at stake; shortlisted bidders find no value in parking funds in embattled airline

Firstpost  

Etihad, which was keen to buy controlling stake in Jet Airways, has reportedly had a second thought to go ahead with the investment process as it could not find any value left in the embattled airline. The hopes for revival of the temporarily grounded Jet Airways received a major blow as all the shortlisted bidders, including its former strategic partner …

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees
5 years, 8 months ago

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees

Firstpost  

Last week bank unions had written to Prime Minister Narendra Modi demanding the government take over the carrier to secure the jobs of its employees Mumbai: With an uncertain future staring at over 22,000 employees of the grounded Jet Airways, bank unions Monday suggested offering special loans to them to tide of their financial crisis arising from non-payment of salaries. …

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, …

11 Jet lenders could see a major haircut to their exposure
5 years, 8 months ago

11 Jet lenders could see a major haircut to their exposure

Live Mint  

Etihad Airways PJSC has asked lenders to Jet Airways Ltd to take an 80% haircut on their debt to the grounded airline for the Abu Dhabi-based carrier to make a bid, a person directly aware of the matter said. If accepted, the step would see as many as 11 banks forced to make sizeable writeoffs to their exposure to Jet …

Jet Airways crisis: Lenders keen on non-IBC resolution if bidding process fails
5 years, 8 months ago

Jet Airways crisis: Lenders keen on non-IBC resolution if bidding process fails

India TV News  

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, sources said. While lenders are "reasonably hopeful" of a successful bidding process, sources said banks are working on a plan B in case things don't progress as expected. …

Jet executives meet Arun Jaitley, urge salary payment
5 years, 8 months ago

Jet executives meet Arun Jaitley, urge salary payment

Live Mint  

Senior executives of grounded Jet Airways met the Union finance minister Arun Jaitley on Friday and requested him to direct the banks to release at least one month's salary. Speaking to IANS, National Aviator's Guild Vice President Captain Asim Valiani said the Finance Minister assured them that he would look into all issues raised by the airline employees. The airline …

Air India chief meets SBI chairman over leasing Jet planes
5 years, 8 months ago

Air India chief meets SBI chairman over leasing Jet planes

Live Mint  

Air India chairman Ashwani Lohani held preliminary talks with his State Bank counterpart Rajnish Kumar in the Capital Friday on the national carrier's interest in leasing five Boeing 777s from the now-grounded Jet Airways, sources close to the development said. "During the meeting with Kumar, Lohani discussed his proposal on leasing five B777s of Jet Airways," the sources told PTI. …

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