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 being proceeds of crime built by Satyam promoter Raju. So much so, even if IndiGo, for example, agrees to take Jet Airways on its wide wings upon merger, it would not be enough because the cash crunch would spread from Jet Airways to Indigo. Etihad alone may relent and pump in money enticed by the promise of flying Jet Airways passengers to international destinations via Abu Dhabi.

Bank Indigo Airways Jet Jet Airways Satyam Tech Mahindra  answer  model  bank  rescue  fortunes  jet  satyam  cash  rs  merger  tech  mahindra  worked  satyamstyle  debacle  airways  cashstrapped

History of this topic

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 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 …

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 …

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. …

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 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," …

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 …

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 …

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 …

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

Jet Airways crisis: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%

Firstpost  

Promoters of Hinduja Group expressed concerns over ongoing government investigations into Jet Airways and insolvency pleas submitted by its creditors London-based Hinduja Group has reportedly decided to halt negotiations for buying a stake in now-grounded Jet Airways while Abu Dhabi-based Etihad Airways has put its plan on hold to invest further, a media report said. Promoters of Hinduja Group expressed …

Jet Airways crisis: Hinduja Group, Etihad Airways fail to strike deal for joint ownership of grounded airline
5 years, 7 months ago

Jet Airways crisis: Hinduja Group, Etihad Airways fail to strike deal for joint ownership of grounded airline

Firstpost  

Hinduja Group recently said it is evaluating the opportunity to invest in Jet Airways. The lenders of the beleaguered airline have expressed reservation to consider unsolicited bids Diversified Hinduja Group and Etihad Airways have reportedly failed to strike a deal for joint ownership of the now-grounded Jet Airways, a media report said. According to The Hindu Business Line, the Hinduja …

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 …

Jet Airways revival: Hinduja Group may start bidding for crisis-hit airline this week; to meet with Etihad Airways on 23 May
5 years, 7 months ago

Jet Airways revival: Hinduja Group may start bidding for crisis-hit airline this week; to meet with Etihad Airways on 23 May

Firstpost  

Last week, there were reports that lenders to Jet Airways and Etihad Airways had reportedly reached out to Hinduja Group offering a stake in the grounded airline It seems the crisis of Jet Airways may be over soon as Hinduja Group is reportedly planning to initiate the bidding process for the temporarily grounded airline, said media reports. The Hinduja Group …

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 …

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, …

Turbulence at the top is bad news for InterGlobe Aviation investors
5 years, 7 months ago

Turbulence at the top is bad news for InterGlobe Aviation investors

Live Mint  

Disagreements between major shareholders can be an expensive affair. Take the case of InterGlobe Aviation Ltd, which runs IndiGo, India’s largest airline. “With India exhausting bilateral flying rights on most short-haul destinations, vacation of slots by Jet is a positive for airlines, such as IndiGo, SpiceJet and Vistara, who are all aspiring to ramp-up their international operations,” wrote Garima Mishra …

Jet Airways CEO Vinay Dube quits: With top executives deserting ailing airline, is there any hope left for its revival?
5 years, 7 months ago

Jet Airways CEO Vinay Dube quits: With top executives deserting ailing airline, is there any hope left for its revival?

Firstpost  

With the top level management throwing in the towel today, is now clear that there is no future for Jet Airways. Is the resignation of three top executives at Jet Airways the last nail in the beleaguered airline’s coffin? On Tuesday evening, Vinay Dube, CEO, Jet Airways, Amit Agarwal, deputy CEO and Chief Financial Officer, and Rahul Taneja, Chief People …

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 …

Firstpost Editor's Picks: Gwadar attack, Congress-JD(S) alliance, Jet Airways revival; today's must-read stories
5 years, 7 months ago

Firstpost Editor's Picks: Gwadar attack, Congress-JD(S) alliance, Jet Airways revival; today's must-read stories

Firstpost  

HD Deve Gowda and sons held Congress-JD coalition govt to ransom in 2004, reveals former Karnataka cop’s book A good part of the book is, in fact, devoted to the shenanigans of JD leader HD Deve Gowda and his two sons — Revanna and Kumaraswamy — who constantly hassled Singh with demands of all kinds, the most frequent of which …

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 …

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: 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, …

Jet employees union writes open letter, says will never let airline go down
5 years, 8 months ago

Jet employees union writes open letter, says will never let airline go down

India Today  

An employee union of Jet Airways has said they will neither let the airline go down nor tolerate casual talk to dismantle it "piece by piece". The letter has come against the backdrop of Minister of State for Civil Aviation Jayant Sinha's reported comments that capable employees of Jet Airways would be absorbed by other airlines. Maharashtra Finance Minister Sudhir …

Filmmaker turned journalist insinuates the fall of Jet Airways being PM Modi’s fault, uses it to deride BJP’s ‘Vikas’ agenda
5 years, 8 months ago

Filmmaker turned journalist insinuates the fall of Jet Airways being PM Modi’s fault, uses it to deride BJP’s ‘Vikas’ agenda

Op India  

India’s first private airline Jet Airways have been facing a huge financial crisis since months. Etihad Airways, which owns 24% in Jet, was to infuse capital into the airlines to solves its financial crisis, but the talks are stalled over several disagreements. Vinod Kapri, the group editor of TV9 Bharatvarsh, whose Modi hatred is well known, attempted to pin the …

Five things that went wrong for Jet Airways
5 years, 8 months ago

Five things that went wrong for Jet Airways

The Hindu  

April 17, 2019 02:11 pm | Updated November 28, 2021 12:28 pm IST - Mumbai Jet Airways was teetering on the brink of collapse on Wednesday, operating just five planes and waiting for lenders to release emergency funds to keep the debt-saddled carrier flying. Costly purchase Many aviation experts believe the start of Jet's financial troubles can be traced back …

Jet Airways, once India’s biggest airline, fights to keep flying
5 years, 8 months ago

Jet Airways, once India’s biggest airline, fights to keep flying

Live Mint  

Jet Airways India Ltd.’s fleet has shrunk by almost 90 percent as the cash-strapped airline struggles to find funds to operate, forcing the nation’s oldest surviving private airline to drastically curtail its scheduled flights amid a hunt for a new investor. The carrier, once India’s biggest by market capitalization, was forced to ground 10 more jets after it failed to …

Jet Airways cancels all long-haul international flights
5 years, 8 months ago

Jet Airways cancels all long-haul international flights

CNN  

CNN — Struggling Indian airline Jet Airways has canceled all its international flights, raising fears that it may be close to collapse. The airline said in a statement on Friday that it “has canceled its international operations from 12th to 15th April.” All of Jet’s long-haul services — including to London, Paris and Amsterdam — were suspended from Thursday night, …

Jet Airways creditors wait for takeover bids as deadline looms
5 years, 9 months ago

Jet Airways creditors wait for takeover bids as deadline looms

Live Mint  

Mumbai: The fate of debt-laden Jet Airways India Ltd., the country’s oldest surviving private airline, could be determined as soon as a creditor-imposed deadline for takeover bids runs out on Wednesday. Creditors led by State Bank of India had not received any bids for as much as 75% of Jet Airways as of Tuesday, though that doesn’t mean that offers …

Downfall of Jet Airways: The crisis in airline illustrates challenge of making money in Indian aviation sector
5 years, 9 months ago

Downfall of Jet Airways: The crisis in airline illustrates challenge of making money in Indian aviation sector

Firstpost  

Jet Airways has posted losses in eight of the past 10 years and its share of the domestic passenger market has fallen to about 15.5 percent in 2018 from 22.5 percent in 2015 Singapore/ New Delhi: In early January, Jet Airways and its main lender, State Bank of India, met with aircraft lessors to assure them there was a plan …

Downfall of Jet Airways: How India's premium airline crumbled, challenges ahead
5 years, 9 months ago

Downfall of Jet Airways: How India's premium airline crumbled, challenges ahead

India Today  

In early January, Jet Airways and its main lender, State Bank of India, met with aircraft lessors to assure them there was a plan to rescue the debt-laden carrier so it could pay them, sources familiar with the matter said. "Despite Naresh Goyal's departure from Jet, lessors don't seem to think the carrier can be rescued, judging by the urgency …

Jet Airways crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more
5 years, 9 months ago

Jet Airways crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more

Firstpost  

Etihad, Jet Airways’ previous strategic partner, is not keen to invest more and hike its stake in the cash-strapped airline, said the report. The new rescue deal also proposes the exit of Etihad, as well as large haircuts for lenders, including a write-off of debt by the domestic lenders to Jet Airways, the report said. Last month, there were media …

Jet Airways crisis: over 1000 pilots decide to go ahead with the ‘no flying’ call from April 1
5 years, 9 months ago

Jet Airways crisis: over 1000 pilots decide to go ahead with the ‘no flying’ call from April 1

Op India  

The troubles of Jet Airways just seems to be getting worse. The National Aviators Guild, the body which claims representation of some 1,100 pilots at Jet Airways, had last week announced its decision not to fly from April 1 if their pending salaries were not cleared and transparency on the revival plan not provided by March 31. The collective decision …

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board
5 years, 9 months ago

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board

Firstpost  

Shares of Jet Airways continued their upward journey on Wednesday and closed over 3 percent higher after Jet Airways set an ‘ambitious’ target of flying 40 additional aircraft by the end of April. Former State Bank of India chief Arun Kumar Purwar is expected to head the debt-ridden Jet Airways after its founder and chairman Naresh Goyal along with his …

Jet Airways shares rally further; zoom nearly 9% as chairman Naresh Goyal steps down
5 years, 9 months ago

Jet Airways shares rally further; zoom nearly 9% as chairman Naresh Goyal steps down

Firstpost  

Jet Airways stock opened on a bullish note Tuesday and jumped 8.80 percent to Rs 276.90 on the BSE and at the NSE, shares advanced 8.93 percent to Rs 276.80. New Delhi: Shares of Jet Airways continued to rise for the second day Tuesday, zooming nearly 9 percent on the bourses following the exit of Founder and Chairman Naresh Goyal …

The highs and lows of Naresh Goyal’s turbulent time at Jet Airways’ helm
5 years, 9 months ago

The highs and lows of Naresh Goyal’s turbulent time at Jet Airways’ helm

Live Mint  

Mumbai: It takes sheer guts to found and fly an airline for 27 years, in a period that saw the ambitious launches of several Indian carriers that only got grounded a few years down the line. “But Tatas, suspecting revenue leakage, also made it amply clear that all of Jet’s existing vendor contracts including ground handling had to end,” this …

Expect to find a buyer for Jet Airways by 31 May: SBI chairman Rajnish Kumar
5 years, 9 months ago

Expect to find a buyer for Jet Airways by 31 May: SBI chairman Rajnish Kumar

Live Mint  

New Delhi: State Bank of India on Monday said that it expects investors for the cash-strapped Jet Airways Ltd by the end of May and founder Naresh Goyal has option of increasing his stake in the beleaguered airline to beyond 25% in the future. Naresh Goyal resigned as chairman of Jet Airways on Monday, two decades after he started the …

Naresh Goyal steps down from Jet Airways board: Eight charts depict cash-strapped airline's performance over one and half decade
5 years, 9 months ago

Naresh Goyal steps down from Jet Airways board: Eight charts depict cash-strapped airline's performance over one and half decade

Firstpost  

Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal will resign from the board of the crisis-hit airline, according to a regulatory filing. Jet Airways founder and chairman Naresh Goyal and his wife Anita Goyal have stepped down from the board of the crisis-hit airline, according to a regulatory filing. In a filing to the stock exchanges, …

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action
5 years, 9 months ago

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action

Firstpost  

Early last week, Etihad had refused to participate in the debt-laden Jet Airways’ rights issue or infuse fresh funds under the current terms and conditions of the resolution plan. Etihad Airways now seems to be not as keen as it was earlier to infuse more funds into the debt-laden Jet Airways amid indications that the Abu Dhabi-based airline may even …

Jet Airways crisis: SBI forgets it is neither debt-ridden airline's promoter nor nation’s conscience keeper
5 years, 9 months ago

Jet Airways crisis: SBI forgets it is neither debt-ridden airline's promoter nor nation’s conscience keeper

Firstpost  

For SBI to say that it has to infuse equity into the nosediving Jet Airways amounts to the worst kind of mixing up of roles At the height of the IL&FS crisis, Life Insurance Corporation of India swore that it could not possibly see its baby go down the chute. LIC, along with a few other public sector financial companies, …

Jet Airways founder Naresh Goyal out as banks take control
5 years, 9 months ago

Jet Airways founder Naresh Goyal out as banks take control

CNN  

New Delhi CNN Business — The founder of India’s Jet Airways has been forced out as part of a government-backed bailout. In a regulatory filing, Jet Airways announced that Goyal and his wife will be stepping down from the board and Goyal will “also cease to be the chairman of the company.” India’s largest public bank, the State Bank of …

Jet Airways shares rise 15.5 per cent as Naresh Goyal resigns
5 years, 9 months ago

Jet Airways shares rise 15.5 per cent as Naresh Goyal resigns

India Today  

Shares of Jet Airways zoomed 15.5 per cent Monday with its founder and Chairman Naresh Goyal and his wife Anita Goyal stepping down from the crisis-hit airline's board. On the National Stock Exchange, shares zoomed 15.46 per cent to close at Rs 261 apiece. In the filing to the stock exchanges, Jet Airways said Naresh Goyal, Anita Goyal and one …

Why Jet Airways is under pressure?
5 years, 9 months ago

Why Jet Airways is under pressure?

The Hindu  

The story so far: Over the past few weeks, two-thirds of Jet Airways’ fleet has been grounded as talks over a bailout continue among Jet, its lenders and Etihad, which owns a 24% stake in the airline. Etihad also wants Jet promoter and chairman Naresh Goyal to play a less important role, going by its insistence on capping his stake …

Discover Related