Etihad’s nominee director on Jet board Kamark puts in his papers
5 years, 7 months ago

Etihad’s nominee director on Jet board Kamark puts in his papers

Live Mint  

Etihad Airways PJSC’s nominee director to the board of Jet Airways Ltd, Robin Kamark, has resigned, adding to uncertainties around the future of the grounded airline. “.we wish to inform you that Mr. Robin Kamark, nominee director of Etihad Airways PJSC, resigned as director of the company with effect from 16 May 2019,” Jet Airways said in filing with the BSE on Friday. Kamark’s exit comes days after the airline saw a slew of high profile exits, including its chief executive officer Vinay Dube, chief financial officer Amit Agarwal and whole-time director Gaurang Shetty. Kamark was responsible for leading Etihad Aviation Group’s minority equity investment strategy, and optimising business performance, revenue and cost synergies between Etihad Airways and its equity partner airlines, including Jet Airways, according to the airline’s website.

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History of this topic

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 …

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 …

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 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 …

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 …

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 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 …

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 …

4 Jet Airways officials resign in a day, after CEO it's airline's CPO
5 years, 7 months ago

4 Jet Airways officials resign in a day, after CEO it's airline's CPO

India Today  

Jet Airways CEO Vinay Dube resigned from the services of Jet Airways with immediate effect citing personal reasons. In a filing to stock exchanges, Jet Airways said that Vinay Dube has "resigned from the services of the company with immediate effect due to personal reasons". Earlier, Jet Airways's Deputy Chief Executive Officer and Chief Financial Officer Amit Agarwal had also …

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 …

Naresh Goyal opts out of Jet Airways bidding process
5 years, 8 months ago

Naresh Goyal opts out of Jet Airways bidding process

Live Mint  

Mumbai: Jet Airways founder Naresh Goyal has decided not to bid for acquiring stake in the cash-strapped airline, people aware of the development said Tuesday. Goyal was planning a bid for Jet Airways at least as early as January, a Mint report said Tuesday, citing regulatory documents show. SBI Capital Markets, which has the mandate for Jet Airways stake sale …

Naresh Goyal said to put in bid for Jet Airways
5 years, 8 months ago

Naresh Goyal said to put in bid for Jet Airways

Live Mint  

Mumbai: Jet Airways Ltd founder Naresh Goyal has put in his bid for buying stake in the crisis-hit airline, said people aware of the development. Goyal quit as Jet Airways chairman in March under a bailout plan that saw lenders, led by State Bank of India, taking control of the airline. The ongoing Jet Airways crisis deepened Friday as the …

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 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 …

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 …

Jet Airways charts a new route as Naresh Goyal, wife Anita Goyal exit
5 years, 9 months ago

Jet Airways charts a new route as Naresh Goyal, wife Anita Goyal exit

Live Mint  

The unprecedented move will see Goyal lose control of an airline that he founded 27 years ago. It also culminates calls from Jet Airways’ lenders, as well as its 24% stakeholder, Etihad Airways PJSC, for Goyal to step down from the chairmanship. While the lenders ensured that the debt-laden airline is not grounded, it also turned out to be a …

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 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 …

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 …

Etihad unlikely to get on board with Jet Airways bailout plan
5 years, 9 months ago

Etihad unlikely to get on board with Jet Airways bailout plan

Live Mint  

Mumbai: Etihad Airways PJSC is unlikely to agree to a provisional debt resolution plan proposed by lenders for the crisis-hit Jet Airways Ltd, said two people directly aware of the development. A meeting of the board of Etihad in Abu Dhabi on Tuesday remained inconclusive, with several members expressing reservations about the terms proposed by the lenders that included adding …

Etihad will invest in Jet Airways, but several conditions apply
5 years, 9 months ago

Etihad will invest in Jet Airways, but several conditions apply

Live Mint  

Mumbai: Etihad Airways PJSC, which owns a 24% stake in Jet Airways Ltd, has set several conditions before its next round of proposed investment in the cash-strapped airline. Etihad has also sought completion of the ₹4,000 crore interim financing as per terms agreed upon by Etihad, Jet Airways founder and chairman Naresh Goyal and a group of lenders led by …

Etihad to pull Jet Airways out of crisis, with help of a ’new investor’
5 years, 9 months ago

Etihad to pull Jet Airways out of crisis, with help of a ’new investor’

Live Mint  

Mumbai: Etihad Airways PJSC and the Naresh Goyal-led promoter group of Jet Airways Ltd are nearing an agreement that will see a total fund infusion of at least ₹4,200 crore, including an unidentified white knight investing in the cash-strapped airline and Goyal and his wife giving up executive powers and board duties. The draft agreement envisages a “new investor” injecting …

Etihad said to infuse ₹1,600-1,900 crore in Jet Airways
5 years, 9 months ago

Etihad said to infuse ₹1,600-1,900 crore in Jet Airways

Live Mint  

New Delhi: Etihad Airways PJSC is likely to infuse around ₹1,600-1,900 crore into cash-strapped Jet Airways Ltd under a proposed deal wherein Naresh Goyal would step down as chairman of the domestic carrier, according to people aware of the development. Under the proposed Jet-Etihad deal, Goyal would step down as chairman of Jet Airways but can nominate two persons to …

Jet Airways crisis: Naresh Goyal seeks ₹750 crore in funding from Etihad
5 years, 9 months ago

Jet Airways crisis: Naresh Goyal seeks ₹750 crore in funding from Etihad

Live Mint  

Mumbai: Jet Airways Ltd's outgoing chairman Naresh Goyal has sought an urgent funding of ₹750 crore from equity partner Etihad Airways PJSC, citing "the very precarious" position of the airline. In a letter to Etihad chief executive Tony Douglas, Goyal said Jet Airways has secured the go-ahead from the aviation ministry to pledge its shares in Jet Privelege Pvt. "I …

Etihad hits the pause button on Jet Airways’ rescue deal
5 years, 10 months ago

Etihad hits the pause button on Jet Airways’ rescue deal

Live Mint  

Seen as the white knight for ailing Jet Airways Ltd, Etihad Airways PJSC seems to have hit the pause button on equity infusion talks and has sought clarity on several contentious issues, two people familiar with the matter said, requesting anonymity. Etihad has not been able to find a local partner to replace Jet’s founder-chairman Naresh Goyal, who will have …

Naresh Goyal’s son Nivaan likely to be inducted into Jet Airways’ board
5 years, 10 months ago

Naresh Goyal’s son Nivaan likely to be inducted into Jet Airways’ board

Live Mint  

Mumbai: Jet Airways Ltd promoter Naresh Goyal’s son Nivaan Goyal, who has been playing an active role in negotiations with lenders, is likely to be inducted into the cash-strapped airline’s board of directors, a person with direct knowledge of the matter told Mint. Nivaan Goyal is likely to be elevated as a board member soon, said the person who asked …

Naresh Goyal agrees to step down as Jet chairman
5 years, 10 months ago

Naresh Goyal agrees to step down as Jet chairman

Live Mint  

Mumbai: Jet Airways Ltd’s founder Naresh Goyal has agreed to step down from the airline’s board as its chairman as part of a plan to secure a rescue deal for the cash-strapped company, a person familiar with the matter said. Etihad Airways, which owns a 24% stake in Jet Airways, is however still to agree on several proposals put forward …

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO
5 years, 10 months ago

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO

Live Mint  

Jet Airways and Etihad Airways on Monday said they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline. On Sunday, officials associated with the lenders and key shareholders said SBI was considering moving the tribunal seeking insolvency proceedings against Jet Airways since it is running out of money for operations. …

Jet Airways may raise ₹4,000 crore via rights issue if Etihad open offer fails
5 years, 10 months ago

Jet Airways may raise ₹4,000 crore via rights issue if Etihad open offer fails

Live Mint  

Mumbai: Jet Airways Ltd may consider raising ₹4,000 crore through a rights issue if the Securities and Exchange Board of India denies an exemption to Abu Dhabi-based Etihad Airways PJSC from making an open offer in lieu of raising its stake in the cash-strapped carrier, said two people with direct knowledge of the matter requesting anonymity. Jet Airways’ promoter and …

Jet Airways defers plans to sell stake in Jet Privilege
5 years, 10 months ago

Jet Airways defers plans to sell stake in Jet Privilege

Live Mint  

Mumbai: Jet Airways Ltd on Friday deferred plans to sell stake in Jet Privilege, its frequent flyer programme that the Naresh Goyal-led management had repeatedly called a lifeline for the beleaguered airline. The decision comes a day after the Jet Airways board approved a bailout plan that takes away Goyal’s position as majority shareholder of the company. The banks-led provisional …

SBI is poised to control 15% of Jet Airways
5 years, 11 months ago

SBI is poised to control 15% of Jet Airways

Live Mint  

India’s largest lender State Bank of India is set to take an equity stake of at least 15 percent in Jet Airways India Ltd. as lenders to the carrier plan to convert part of their loans into equity, people with knowledge of the matter said. Under a new rescue deal in the works, the nation’s biggest full-service airline’s founder Chairman …

Jet Airways seeks shareholder nod to convert loan into shares
5 years, 11 months ago

Jet Airways seeks shareholder nod to convert loan into shares

Live Mint  

Jet Airways Ltd said on Monday it would seek shareholder approval next month to convert existing debt into equity, part of efforts by the cash-strapped Indian airline to resolve its financing problems. It will Jet, which controls a sixth of India's booming aviation market, will The airline plans to increase its share capital to 22 billion rupees from 2 billion …

Timeline: How things went from bad to worse for Jet Airways
5 years, 11 months ago

Timeline: How things went from bad to worse for Jet Airways

Live Mint  

Bengaluru: Cash-strapped Jet Airways Ltd has flown straight into a storm, resulting in a major setback for India's largest full-service airline that could shake up the country's aviation industry. Jet, which has debt exceeding 80 billion rupees as of September-end, has been steadily losing market share to its rival and low-cost carrier IndiGo, which is owned by InterGlobe Aviation Ltd. …

Jet Airways creditors’ meet ends without a deal
5 years, 11 months ago

Jet Airways creditors’ meet ends without a deal

Live Mint  

Mumbai: The lenders meet to resolve the crisis in Jet Airways Ltd, appeared to have ended inconclusively with neither of the companies involved, Jet Airways and Etihad Airways PJSC, issuing any statement at the end. “Matter of open offer exemption is for Jet Airways, Etihad Airways, Sebi to discuss,” Choubey said. Jet Airways, however, denied media reports on any communication …

Etihad will invest in debt-laden Jet Airways, but conditions apply: Reports
5 years, 11 months ago

Etihad will invest in debt-laden Jet Airways, but conditions apply: Reports

Live Mint  

Etihad Airways has offered to invest in debt-laden Indian carrier Jet Airways Ltd at 150 rupees per share, along with an immediate release of $35 million after certain conditions are met, CNBC-TV18 reported on Wednesday, citing sources. Jet Airways shares tumbled after the report, falling as much as 7.5% to 271.75 rupees in their biggest intraday% age loss since Dec. …

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