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 is sitting on a debt of over Rs 11,000 crore, according to reports. Meanwhile, the Hinduja Group would be looking to foray into the airline business with Jet after it had earlier eyed Air India when the state-run carrier floated a privatisation bid. If the deal is not finalised soon, it could be too late for Jet Airways as the airline is consistently losing pilots.

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History of this topic

Jet Airways liquidation: Why India needs a new regime to save airlines
1 month, 4 weeks ago

Jet Airways liquidation: Why India needs a new regime to save airlines

Live Mint  

Learning by doing is about the only way to master swimming, cycling or yoga, but does it apply to harnessing India’s Insolvency and Bankruptcy Code as well, particularly in the case of airlines? After Go Air, it is now Jet Airways’s turn to go into liquidation after an insolvency resolution process under IBC failed to sell the business as a …

Why Indian carriers struggle to survive despite airport boom and record footfall
1 month, 4 weeks ago

Why Indian carriers struggle to survive despite airport boom and record footfall

Firstpost  

The Indian aviation industry may seem to be soaring, but it has a history of airline shutdowns due to money troubles, intense competition and management issues. While Air India merged with Indian Airlines in 2007 to become the largest full-service airline, other major players like Kingfisher, Jet Airways and Air Sahara all eventually collapsed. Boeing’s 2023 outlook estimates that over …

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 grounded for good as Supreme Court orders liquidation
2 months ago

Jet Airways grounded for good as Supreme Court orders liquidation

India Today  

The Supreme Court's ruling on November 7 to liquidate Jet Airways effectively closed the chapter on attempts to revive the once-prominent Indian airline. With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court also set aside the National Company Law Appellate Tribunal order, which allowed …

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit
11 months, 4 weeks ago

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit

Live Mint  

The Insolvency and Bankruptcy Code can't resolve airline bankruptcies, according to RK Bansal, CEO and managing director of asset reconstruction company Edelweiss ARC. Speaking during a panel discussion titled ‘IBC and Banks: Challenges and Solutions’ at the Mint BFSI Summit and Awards 2024, Bansal highlighted a fundamental issue in the Indian aviation sector – most airlines don't own their planes …

ED arrests Jet Airways founder Naresh Goyal in bank fraud case
1 year, 4 months ago

ED arrests Jet Airways founder Naresh Goyal in bank fraud case

The Hindu  

The Enforcement Directorate on September 1 arrested Jet Airways Limited’s founder chairman Naresh Jagdishrai Goyal, in connection with an alleged loan fraud involving about ₹538.62 crore of the Canara Bank. As alleged, the company was initially sanctioned a working capital limit of ₹126 crore and inland letter of credit/financial bank guarantee limit of ₹100 crore for different purposes. As alleged, …

Why airlines keep folding in India’s booming aviation market
1 year, 8 months ago

Why airlines keep folding in India’s booming aviation market

Live Mint  

Go Airlines India Ltd. this week became the latest victim in the battle of the skies over India. Go, run by cookie-to-clothing magnate Nusli Wadia’s group, is the third high-profile carrier majority owned by a billionaire that has ceased to fly in the past 11 years. Modi has committed to steer the state away from business, proving his credentials by …

Jet Airways CEO-designate Sanjiv Kapoor quits
1 year, 8 months ago

Jet Airways CEO-designate Sanjiv Kapoor quits

Live Mint  

Grounded airline Jet Airways' CEO-designate Sanjiv Kapoor quit the airline, an official statement confirmed. The Jalan Kalrock Consortium today announced that Sanjiv Kapoor, Chief Executive Officer-designate for Jet Airways, is departing the company effective Monday, May 1, on the conclusion of his notice period," the airline said in a statement. Controversy over Jet Airways CEO title The Jalan-Kalrock consortium and …

From record jet deal to operation strategy: Air India CEO gives key insights into airline's future
1 year, 10 months ago

From record jet deal to operation strategy: Air India CEO gives key insights into airline's future

India Today  

A few weeks after Air India announced the biggest deal in the history of commercial aviation, the carrier’s CEO, Campbell Wilson, shared details about his experience at the airline, the significance of the 470-jet deal, future market strategy and its role in developing the country into a world class aviation hub. Domestic and international strategy Commenting on future strategy for …

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 …

'Nothing like home', says Jet Airways, calls on ex-crew to return
2 years, 6 months ago

'Nothing like home', says Jet Airways, calls on ex-crew to return

Hindustan Times  

Jet Airways on Friday took another step towards resuming operations as it asked former cabin crew to come back 'home'. Inviting former Jet Airways cabin crew to come back and join us in relaunching India's classiest airline," the airline, which halted operations in 2019 and is scheduled to fly again later this year, said. Moments later, chief executive officer Sanjiv …

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 …

Jet Airways 2.0: From launch date to benefits for flyers, CEO Sanjiv Kapoor reveals key details
2 years, 9 months ago

Jet Airways 2.0: From launch date to benefits for flyers, CEO Sanjiv Kapoor reveals key details

India Today  

Jet Airways is gearing up to take to Indian skies by October 2022, airline Chief Executive Officer Sanjiv Kapoor said. FACILITIES FOR FLYERS Newly appointed CEO Sanjiv Kapoor said that Jet Airways will offer two-class facilities for flyers as part of the airline's plan to return with a hybrid of no-frills and premium services. Kapoor said Jet Airways has 200 …

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer
2 years, 10 months ago

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer

The Quint  

Kapoor was earlier also a part of SpiceJet. "I am certain he will be able to lead Jet Airways and make it become the most preferred full-service carrier of India. Sanjiv is a seasoned aviation professional who has the right blend and demeanour to stitch a team together," said Murari Lal Jalan, Lead Partner of the Jalan-Kalrock Consortium and proposed …

Meet Sanjiv Kapoor: Ex Vistara, SpiceJet official is Jet Airways' pick to take airline to the skies again
2 years, 10 months ago

Meet Sanjiv Kapoor: Ex Vistara, SpiceJet official is Jet Airways' pick to take airline to the skies again

India Today  

Jet Airways is all set to get a new Chief Executive Officer as Jalan Kalrock Consortium on Friday announced the appointment of Sanjiv Kapoor for the pivotal role. "Working together with a very strong team of experienced aviation professionals that is being put together by the Jalan-Kalrock Consortium, I look forward to leading the charge in rebuilding Jet Airways into …

Jet Airways appoints Sanjiv Kapoor as CEO
2 years, 10 months ago

Jet Airways appoints Sanjiv Kapoor as CEO

India Today  

Jet Airways on Friday appointed Sanjiv Kapoor as Chief executive officer. WILL TAKE JET AIRWAYS TO THE SKIES AGAIN Speaking on his accepting the role as the Chief Executive Officer, Kapoor said, "I am looking forward to getting back to aviation, an industry I am passionate about, with Jet Airways, one of the warmest, classiest and most loved brands to …

Air India Privatisation: Tata Group & SpiceJet Submitted Final Bids, What Will Happen Next?
3 years, 3 months ago

Air India Privatisation: Tata Group & SpiceJet Submitted Final Bids, What Will Happen Next?

News 18  

India’s flag carrier Air India has moved one step forward in the direction of its privatisation. The government, as part of the exercise, also plans to sell its entire stake in Air India Express and 50 per cent stake in Air India SATS Airport Services Private Ltd. India’s salt to software conglomerate, Tata Group has submitted a financial bid for …

A Stormy Flight Path for Rakesh Jhunjhunwala’s Akasa in the Turbulent Aviation Industry
3 years, 5 months ago

A Stormy Flight Path for Rakesh Jhunjhunwala’s Akasa in the Turbulent Aviation Industry

News 18  

The Indian aviation community is abuzz with the news of a new airline being added to the fleet. And why now in the midst of a pandemic?” The Indian aviation market comprises six large airlines: IndiGo, SpiceJet, GoAir, AirAsia India, Vistara and Air India. In fact, it may go a step further to attempt an ultra-low cost model, which in …

Rakesh Jhunjhunwala’s new airline may give Boeing a chance to regain lost ground
3 years, 5 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, 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 …

Jalan Kalrock Consortium expects to restart Jet Airways in 4-6 months after NCLT nod
3 years, 10 months ago

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

Live Mint  

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

Jet Airways 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 …

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 …

Rahul Bhatia's InterGlobe Enterprises joins list of bidders for bankrupt airline Virgin Australia
4 years, 7 months ago

Rahul Bhatia's InterGlobe Enterprises joins list of bidders for bankrupt airline Virgin Australia

Firstpost  

Virgin Australia is one of the first major airlines to seek bankruptcy protection in response to the pandemic InterGlobe Enteprises, the biggest shareholder for India’ largest airline IndiGo, is joining a list of bidders who have shown interest in Virgin Australia, Australia’s second-largest aviation company. Deloitte, the administrator for Virgin Australia, is seeking indicative bids by Friday and binding offers …

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, …

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 …

Without buyer, Air India might be forced to shut down in six months: Airline official
5 years ago

Without buyer, Air India might be forced to shut down in six months: Airline official

India TV News  

Struggling Air India might be forced to shut down by June next year unless it finds a buyer as "piecemeal" arrangements cannot be sustained for long, according to a senior airline official. Sounding alarm bells, the official said Air India might well go Jet Airways way if a prospective buyer does not come on board by June next year. The …

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. …

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, 4 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 …

Enforcement Directorate questions Jet Airways founder Naresh Goyal in foreign exchange violation case
5 years, 4 months ago

Enforcement Directorate questions Jet Airways founder Naresh Goyal in foreign exchange violation case

Firstpost  

The Enforcement Directorate questioned Jet Airways founder Naresh Goyal on Friday in a case of an alleged contravention of the foreign exchange law, officials said The Enforcement Directorate questioned Jet Airways founder Naresh Goyal on Friday in a case of an alleged contravention of the foreign exchange law, officials said. Goyal’s statement has been recorded under the Foreign Exchange Management …

Jet Airways fails to attract new bidders during extended deadline period; may go ahead with 3 entities who submitted EOIs: Report
5 years, 4 months ago

Jet Airways fails to attract new bidders during extended deadline period; may go ahead with 3 entities who submitted EOIs: Report

Firstpost  

With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier Mumbai: Grounded Jet Airways, which is undergoing insolvency proceedings, failed to attract any new bidders during the extended deadline period for submission of initial bids, according to a source. Russian Fund Treasury RA Partners, Panama-based investment firm Avantulo Group …

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 …

ED raids Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai
5 years, 4 months ago

ED raids Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai

India TV News  

In more trouble for former Jet Airways Chairman Naresh Goyal, the Enforcement Directorate on Friday carried out searches at his residence in Mumbai and Delhi in connection with a case of alleged contravention of the foreign exchange law. About a dozen premises in Mumbai and Delhi, including Goyal's residence in Maharashtra's capital, are being searched, they said. According to news …

ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai in connection with violation of FEMA
5 years, 4 months ago

ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai in connection with violation of FEMA

Firstpost  

ED conducted searches at the premises of Jet Airways founder Naresh Goyal in connection with a case of an alleged contravention of the foreign exchange law The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of an alleged contravention of the foreign exchange law, officials said. Recently, the …

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 Airways crisis: Etihad says not feasible to reinvest in cash-strapped airline, cites unresolved issues concerning liabilities
5 years, 4 months ago

Jet Airways crisis: Etihad says not feasible to reinvest in cash-strapped airline, cites unresolved issues concerning liabilities

Firstpost  

New Delhi: Gulf carrier Etihad, which holds 24 percent stake in Jet Airways, on Monday said it has decided not to reinvest in the airline due to unresolved issues concerning liabilities. In a statement, Etihad said it declined to lodge an Expression of Interest to reinvest in Jet Airways because of unresolved issues concerning the airline’s liabilities. While noting that …

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," …

Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways
5 years, 4 months ago

Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways

Firstpost  

Volcan Investment’s EoI is in now way connected to Vedanta, the company said in a statement Mumbai: Mining baron Anil Agarwal’s investment company, Volcan Investment, on Sunday said that it has shown interest in acquiring stake in defunct carrier Jet Airways. “Volcan Investment, investment company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways to …

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 …

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 …

Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal
5 years, 6 months ago

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

Live Mint  

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

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 Employee Consortium, AdiGroup to bid for 75 pc of airlines
5 years, 6 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 …

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