Naresh Goyal refuses to cede control of Jet Airways
5 years, 11 months ago

Naresh Goyal refuses to cede control of Jet Airways

Live Mint  

Mumbai: The saga of Jet Airways Ltd continues, with its founder and promoter Naresh Goyal making a financial offer to State Bank of India to retain control of the ailing airline, even as its single-largest public shareholder, Etihad Airways PJSC, has sought to oust him in exchange for infusing much-needed funds. Goyal has told SBI, Jet Airways’ largest lender, that he is ready to invest up to ₹700 crore and pledge all his shares, provided he retains at least a 25% stake in the airline. An SBI spokesperson said that the lenders to Jet Airways “are considering a restructuring plan under the RBI framework for resolution of stressed assets that would ensure a long-term viability of the company”. “While Etihad clearly doesn’t want him around if they are to increase their stake and infuse more funds into Jet Airways, Naresh Goyal will not relinquish control at Jet Airways easily,” the person said, requesting anonymity.

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History of this topic

SpiceJet share price surges 9% amid stock market crash. Why is the airline stock flying high? Explained
3 weeks, 1 day ago

SpiceJet share price surges 9% amid stock market crash. Why is the airline stock flying high? Explained

Live Mint  

Stock Market Today: Shares of airline SpiceJet shot up nearly 9 per cent in intra-day trade on Thursday, December 19 after the company informed bourses that it has reached a settlement with Genesis to resolve over a $16 million dispute. As part of the settlement agreement, SpiceJet will pay Genesis $6 million and Genesis will acquire $4 million in SpiceJet …

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 …

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 …

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds
4 months ago

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds

The Hindu  

SpiceJet promoter and chairman Ajay Singh may offload more than 10% stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. One of the sources said that Mr. Singh could offload up to a 15% stake in the airline if certain conditions are conducive. Mr. …

India’s newest airline orders 150 Boeing Max aircraft, in good news for plane maker
11 months, 3 weeks ago

India’s newest airline orders 150 Boeing Max aircraft, in good news for plane maker

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy India’s newest airline will buy …

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 …

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’
1 year ago

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

Firstpost  

The news, which pushed up SpiceJet shares by more than 7%, came after Go First’s lenders began contemplating the airline’s liquidation after they did not get any bids for it within the late November deadline Budget carrier SpiceJet said on Tuesday that it will submit an offer with the resolution professional of Go First after due diligence to “create an …

₹538-crore loan fraud case: Jet Airways founder Naresh Goyal sent to Arthur Road jail
1 year, 3 months ago

₹538-crore loan fraud case: Jet Airways founder Naresh Goyal sent to Arthur Road jail

Hindustan Times  

MUMBAI: The special PMLA court on Thursday remanded Naresh Goyal, founder of the grounded airline Jet Airways, in judicial custody for 14 days after which the 74-year-old was shifted to Arthur Road jail. Goyal was arrested by the Enforcement Directorate late in the night on September 1 in connection with a case registered against Jet Airways, Goyal and others for …

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, …

Air India seeks lessor jet delivery financing after record order
1 year, 9 months ago

Air India seeks lessor jet delivery financing after record order

Live Mint  

Air India has kicked off financing for a plane order worth tens of billions of dollars by asking leasing companies to submit proposals for sale-leaseback deals, the airline said on Monday as industry executives play down the impact of recent banking-sector turmoil on aviation. Air India Chief Executive Campbell Wilson confirmed the airline had gone to the leasing market with …

Air India reveals orders for 470 Boeing, Airbus jets
1 year, 10 months ago

Air India reveals orders for 470 Boeing, Airbus jets

Associated Press  

LONDON — Air India unveiled orders Tuesday for 470 Boeing and Airbus passenger jets as it races to tap surging demand for increasingly affordable air travel from the nation’s growing ranks of middle-class consumers. Toulouse, France-based Airbus will provide Air India 40 wide-body A350 Airbus aircraft and another 210 narrow-body A320neo planes, Tata Sons Chairman Natarajan Chandrasekaran said in the …

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 …

Jet Airways 2.0 faces turbulence before take-off?
3 years ago

Jet Airways 2.0 faces turbulence before take-off?

Business Standard  

Waiting in the wings since April 2019 -- when it was grounded due to a financial crisis -- Jet Airways has been looking to hit the skies for long now. The new owners, British firm Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan, have time and again asserted that Jet Airways 2.0 will take off in the beginning of this …

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 …

Akasa Air: Rakesh Jhunjhunwala to invest $35 million for low-cost airline in India
3 years, 5 months ago

Akasa Air: Rakesh Jhunjhunwala to invest $35 million for low-cost airline in India

Hindustan Times  

Investor and billionaire Rakesh Jhunjhunwala is considering investing $35 million to launch 70 aircraft within the next four years, as a part of his ultra-low-cost airline Akasa Air, Jhunjhunwala told Bloomberg on Wednesday. Rakesh Jhunjhunwala is foraying into an industry that has suffered significant losses due to the ongoing coronavirus pandemic. Akasa Air is expected to get a no-objection certificate …

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline
3 years, 5 months ago

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline

The Quint  

Billionaire investor Rakesh Jhunjhunwala has said that he plans on setting up Akasa Air – a new, ultra-low cost airline in India. With an investment of USD 35 million and 40 percent ownership of the carrier, Jhunjhunwala said that he is expecting a no-objection certificate from India's aviation ministry in the next 15 days, Bloomberg reported. Amid a global pandemic, …

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 …

Kalrock-Jalan cleared to restart Jet
3 years, 6 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 …

Stocks to Watch: Titan, Tech Mahindra, Wipro, Future Retail, Jet Airways
3 years, 10 months ago

Stocks to Watch: Titan, Tech Mahindra, Wipro, Future Retail, Jet Airways

Live Mint  

Here’s a list of top 10 stocks that could be in focus on Tuesday: Titan: CaratLane Trading Private Limited, a subsidiary of the Titan Company Ltd has acquired 100% stake in US-based ‘StudioC Inc’ worth $150,000. Tech Mahindra, Wipro: Indian tech majors Wipro and Tech Mahindra have signed agreements with Telefónica Germany/O2 for transforming the telecommunications provider's business support systems …

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert
4 years, 2 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 Airways Shares Jump 5% Amid Reports Claiming Bid Win by Consortium
4 years, 3 months ago

Jet Airways Shares Jump 5% Amid Reports Claiming Bid Win by Consortium

News 18  

Shares of Jet Airways on Thursday gained nearly 5 per cent amid reports that a consortium has won the bid for the company. The stock rose by 4.89 per cent to close at Rs 30.05 — which was also its upper circuit limit — on BSE. A clarification was also sought by BSE from Jet Airways regarding reports about the …

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 …

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, …

'Rumours of Air India's shutdown baseless, national carrier will continue to fly, says CMD Ashwani Lohani
5 years ago

'Rumours of Air India's shutdown baseless, national carrier will continue to fly, says CMD Ashwani Lohani

Firstpost  

While Air India’s net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore. New Delhi: Air India chief Ashwani Lohani on Saturday said that “rumours” of the disinvestment-bound airline’s shutdown are “all baseless”, weeks after he told the Civil Aviation Ministry that the carrier’s financial situation was “grossly untenable” for sustaining operations. …

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," …

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 …

SpiceJet posts record profit of Rs 262 cr in June quarter, Jet Airways downfall provides boost
5 years, 5 months ago

SpiceJet posts record profit of Rs 262 cr in June quarter, Jet Airways downfall provides boost

Firstpost  

Shares in SpiceJet and InterGlobe Aviation-owned IndiGo have soared 55% and 31% respectively this year, as the companies raced to fill in prime airport slots vacated by Jet Airways. Bengaluru: Indian budget airline SpiceJet on Friday posted its biggest-ever quarterly profit of Rs 261.7 crore, as it flew more passengers and raised fares in the wake of the collapse of …

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 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 …

Jet Airways shares dwindle further; tank 18.5 per cent
5 years, 6 months ago

Jet Airways shares dwindle further; tank 18.5 per cent

India TV News  

Shares of Jet Airways further plummeted 18.5 per cent Wednesday after the consortium of bankers took the grounded airline to the NCLT. This is the 13th consecutive trading day fall for Jet Airways, which has tumbled 78 per cent during this period. Jet Airways, started over 25 years ago, stopped flying on April 17 after it ran out of cash …

Jet Airways crisis: Lenders' consortium picks Grant Thornton as resolution professional for cash-strapped airline
5 years, 6 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 shares plummet 41% to close at Rs 40.45 as troubled airline lands in NCLT
5 years, 6 months ago

Jet Airways shares plummet 41% to close at Rs 40.45 as troubled airline lands in NCLT

Firstpost  

New Delhi: Jet Airways’ shares faced massive drubbing on Tuesday and tumbled nearly 41 percent after State Bank of India-led consortium of lenders decided to send the grounded airline to the National Company Law Tribunal. This the 12th consecutive trading day fall for Jet Airways and the scrip has plunged over 73 percent during this time, wiping out Rs 1,253.5 …

Investors continue to dump Jet Airways shares; tank 15% after lenders decide to move airline to NCLT
5 years, 6 months ago

Investors continue to dump Jet Airways shares; tank 15% after lenders decide to move airline to NCLT

Firstpost  

New Delhi: Jet Airways stock tumbled nearly 15 percent on Tuesday after State Bank of India-led consortium of lenders decided to send the grounded airline to the National Company Law Tribunal. Harried bankers on Monday decided against an outright sale of Jet Airways to the lone bidder, and instead voted to send it for bankruptcy to recover their Rs 8,000 …

Jet Airways shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June
5 years, 6 months ago

Jet Airways shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June

Firstpost  

The scrip of Jet Airways tanked 16.76 percent to close at Rs 68.30 on the BSE. New Delhi: Shares of Jet Airways plunged 18 percent Monday as stock exchanges last week decided to impose restrictions on its trading from 28 June. Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive surveillance …

Jet Airways to be taken to bankruptcy court
5 years, 6 months ago

Jet Airways to be taken to bankruptcy court

The Hindu  

As six months of efforts to save one of the country’s leading airlines, Jet Airways, failed, the lenders have now decided to take it to the bankruptcy court, which will decide the future course of action. “Lenders have been taking efforts to find a resolution for Jet Airways outside the IBC, but in view of the above, they have decided …

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