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 prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of "national importance", the resolution professional is widely expected to request the aviation regulator to extend the AOC's validity. Recently, London-based AdiGroup partnered with Jet Airways Employee Consortium partnered to bid for 75 per cent stake of Jet under the insolvency resolution process.

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History of this topic

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’ lenders move SC against NCLAT decision to uphold resolution plan
11 months, 1 week ago

Jet Airways’ lenders move SC against NCLAT decision to uphold resolution plan

Live Mint  

New Delhi: The lenders of Jet Airways, led by State Bank of India, have challenged a National Company Law Appellate Tribunal's decision that upheld the resolution plan proposed by the Jalan-Kalrock consortium for the bankrupt airline. Additionally, the appellate tribunal instructed JKC to settle dues towards the airline’s workmen, employees, creditors, and other costs of the resolution process from the …

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired
1 year, 10 months ago

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

News 18  

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

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders
1 year, 10 months ago

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders

News 18  

The indefinite wait to see Jet Airways back in the skies continues for a while longer. Jalan-Kalrock consortium, who won the bid to takeover and restart the airline informed India’s bankruptcy court that it needs more time to repay creditors and implement the resolution plan. According to the January 13 verdict of the NCLT, the consortium is supposed to make …

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium
2 years, 2 months ago

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium

Live Mint  

NEW DELHI: The National Company Law Tribunal has allowed the transfer of ownership of Jet Airways to winning bidder Jalan-Kalrock consortium. As per the resolution plan, the consortium has to make cash payments of ₹185 crore to financial creditors within 180 days from the effective date. On 22 June 2021, the tribunal in its order had approved the resolution plan …

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, …

NCLT to hear Jet Airways matter on 6 December
2 years, 3 months ago

NCLT to hear Jet Airways matter on 6 December

Live Mint  

The Mumbai bench of the National Company Law Tribunal on Tuesday adjourned the Jet Airways insolvency matter to 6 December. An interim application was filed by the successful resolution applicant Jalan-Kalrock consortium before the NCLT seeking implementation of the resolution plan submitted by them in an attempt to transfer ownership of the airline. Currently, some lenders from the committee of …

Why Jet Airways 2.0 has yet to take off
2 years, 4 months ago

Why Jet Airways 2.0 has yet to take off

Live Mint  

Seventeen months since the National Company Law Tribunal approved the resolution plan for Jet Airways, the airline is yet to return to service. The consortium has deposited bank guarantees worth ₹150 crore, and says it will invest further only after the next steps of the resolution plan are fulfilled in terms of handover of the company. The resolution plan says …

American, JetBlue alliance will cost consumers $700 million a year, DOJ argues
2 years, 6 months ago

American, JetBlue alliance will cost consumers $700 million a year, DOJ argues

LA Times  

The Justice Department and officials in California and five other states argue in their lawsuit that the deal between American Airlines and JetBlue Airways is, in effect, a merger that will result in higher fares. Government lawyers used airline executives’ own words in trying Tuesday to persuade a federal judge to kill a partnership between American Airlines and JetBlue Airways. …

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 …

Jet Airways timeline: Journey from being cash-starved airline to resolution plan
3 years, 9 months ago

Jet Airways timeline: Journey from being cash-starved airline to resolution plan

India TV News  

In a much-anticipated breakthrough in the Jet Airways resolution, the National Company Law Tribunal has approved the resolution of Kalrock-Jalan consortium for the bankrupt Jet Airways. Last November, the resolution professional of Jet Airways submitted the successful resolution plan of Kalrock Capital and Murari Lal Jalan for the bankrupt airline at the NCLT. June 22, 2021 -- National Company Law …

Kalrock-Jalan cleared to restart Jet
3 years, 9 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 May Fly Again Early Next Year As New Management Takes Charge of Airline
4 years, 5 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 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’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline
4 years, 5 months ago

Jet’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline

Live Mint  

NEW DELHI: The lenders of Jet Airways Ltd on Saturday approved the resolution plan submitted by UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline over a year after the carrier was grounded due to acute funds crunch under the ownership of its founder Naresh Goyal. "The e-voting concluded today, i.e., October 17, 2020 …

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-KLM deal for Dutch business fails to take off; regulatory clearance approval declined
4 years, 10 months ago

Jet Airways-KLM deal for Dutch business fails to take off; regulatory clearance approval declined

Firstpost  

New Delhi: Defunct Jet Airways’ proposed sale of its business in the Netherlands to KLM has been scrapped as the European country’s airport slot coordination organisation, ACNL, rejected the deal. Under a conditional agreement entered into on 13 January, the business of the airline in the Netherlands was to be sold to Koninklijke Luchtvaart Maatschappij N.V. The proposed resolution was …

Jet Airways insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%
4 years, 10 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
5 years, 1 month 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: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline
5 years, 1 month 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
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 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 …

Jet Airways crisis: Debt-laden airline plans to sell Netherlands business to KLM; deal not to impact company's shareholding pattern
5 years, 2 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 …

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline
5 years, 3 months 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. …

Jet Airways insolvency: Will positively consider concrete business plan for troubled-airline, DGCA tells NCLT
5 years, 3 months ago

Jet Airways insolvency: Will positively consider concrete business plan for troubled-airline, DGCA tells NCLT

Firstpost  

The Aviation Ministry and Directorate General of Civil Aviation on Tuesday informed the National Company Law Tribunal that they will positively consider any concrete business plan for the grounded Jet Airways Mumbai: The Aviation Ministry and Directorate General of Civil Aviation on Tuesday informed the National Company Law Tribunal that they will positively consider any concrete business plan for the …

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, 6 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 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 quarterly results delayed amid 'complexities of issues'
5 years, 7 months ago

Jet Airways quarterly results delayed amid 'complexities of issues'

India TV News  

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

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 …

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 …

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 Airways saga: Buyers await regulator’s scrutiny of airline’s flying license
5 years, 8 months ago

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license

Live Mint  

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. However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of "national importance", the resolution professional is widely …

AdiGroup, employee consortium to bid for 75% of Jet Airways
5 years, 9 months ago

AdiGroup, employee consortium to bid for 75% of Jet Airways

The Quint  

New Delhi, June 28 London-based AdiGroup along with Jet Airways Employee Consortium have partnered to bid for 75 per cent stake of Jet Airways under the insolvency resolution process. The AdiGroup and Jet Employees Consortium combine is confident of reviving the airline by successfully bidding for the airline under the process. AdiGroup Chairman Sanjay Viswanathan said the combine expects a …

Jet Airways Employee Consortium, AdiGroup to bid for 75 pc of airlines
5 years, 9 months ago

Jet Airways Employee Consortium, AdiGroup to bid for 75 pc of airlines

India TV News  

In a first-of-its-kind initiative, a Jet Airways Employee Consortium and AdiGroup Friday announced a partnership to bid for 75 per cent of the airlines through the NCLT process, members of the consortium said. "Jet Airways Employee Consortium and AdiGroup are delighted to announce their partnership to bid for acquisition of 75 per cent of Jet Airways through NCLT process. "This …

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 …

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: Lenders' consortium picks Grant Thornton as resolution professional for cash-strapped airline
5 years, 9 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 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 …

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 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 …

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