Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings
5 years, 6 months ago

Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings

Firstpost  

Jet Airways owes over Rs 3,000 crore to its 23,000 employees who have not been paid since March and some of them like engineers and pilots were getting part salaries since last December. Mumbai: The pilots and engineers unions of Jet Airways and two Dutch logistics vendors to the grounded airline on Wednesday moved the NCLT seeking them to be made parties to the bankruptcy hearings, which the tribunal will begin from Thursday. While the pilots and engineers unions want to be made party to the case, the representatives of two Dutch firms want the tribunal’s nod to make an intervention petition. It can be noted that two logistics vendors of Jet Airways in the Netherlands had confiscated a passenger jet at the Amsterdam airport late March seeking dues and a local had in May ordered bankruptcy process against the grounded airline and had appointed Rocco Mulder as the administrator for the bankruptcy proceedings.

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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 …

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 liquidation ordered by Supreme Court amid unresolved financial issues
2 months ago

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues

The Hindu  

A three-judge Bench headed by Chief Justice of India D.Y. Justice J.B. Pardiwala, who authored the judgment, ordered the amount of ₹200 crore paid by Jalan Kalrock Consortium towards the initial tranche payment of ₹350 crore to the creditors to be forfeited. The court set aside the NCLAT direction to the lenders of Jet Airways to adjust the ₹150 crore …

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 …

NCLAT gives Jalan-Kalrock consortium time till 30 Sep to repay Jet Air lenders
1 year, 4 months ago

NCLAT gives Jalan-Kalrock consortium time till 30 Sep to repay Jet Air lenders

Live Mint  

New Delhi: The National Company Appellate Tribunal on Monday gave Jalan-Kalrock consortium, the successful bidder for Jet Airways, time till 30 September to clear dues worth ₹350 crore to lenders of the grounded airline. The tribunal also accepted the consortium's plea to adjust ₹150 crore from a performance bank guarantee towards the payment of ₹350 crore. Lenders have infused approximately …

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, …

NCLT to hear Jet Airways matter on 6 December
2 years, 1 month ago

NCLT to hear Jet Airways matter on 6 December

Live Mint  

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

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 …

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 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 …

Air India Employee Associations Move Bombay HC Against 10% Monthly Pay Cut During Covid-19 Lockdown [Read Petition]
4 years, 8 months ago

Air India Employee Associations Move Bombay HC Against 10% Monthly Pay Cut During Covid-19 Lockdown [Read Petition]

Live Law  

Three employee associations of national carrier Air India have filed writ petitions before the Bombay High Court challenging the decision by Air India to impose a 10% cut in the monthly wage packet of pilots, engineers and other staff members. The Indian Pilots' Guild, Air India Aircraft Engineers' Association and Air India Service Engineers' Association contended that the. The Indian …

As liquidation threat looms, Jet Airways bidders still not ready
4 years, 11 months ago

As liquidation threat looms, Jet Airways bidders still not ready

Live Mint  

Bankrupt carrier Jet Airways India Ltd., once the nation’s biggest by market value, faces fresh warning signs as a deadline to avoid liquidation looms. The two shortlisted bidders Synergy Group Corp. and Prudent ARC Ltd. had both submitted expressions of interest in January, but haven’t yet cobbled together bidding groups. Short of a court judgment to the contrary, creditors are …

Jet Airways signs pact with KLM to liquidate Netherlands assets
4 years, 11 months ago

Jet Airways signs pact with KLM to liquidate Netherlands assets

Live Mint  

Jet Airways Ltd has entered into a conditional sale and purchase agreement with KLM Royal Dutch Airlines to liquidate the assets of the bankrupt airline in the European country. Two local creditors--H Esser Finance Company and Wallenborn Transport --filed a petition against Jet Airways in April 2019, citing unpaid claims worth around ₹280 crore. In September 2019, the National Company …

Jet Airways crisis: Debt-laden airline plans to sell Netherlands business to KLM; deal not to impact company's shareholding pattern
4 years, 11 months ago

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

Firstpost  

The insolvency resolution professional managing the affairs of Jet Airways said various options are being explored for the company’s resolution and maximising the value for its stakeholders. New Delhi: Bankrupt Jet Airways plans to sell its Netherlands business to KLM Royal Dutch Airlines, according to a regulatory filing. The insolvency resolution professional managing the affairs of Jet Airways said various …

Air India pilots' union opposes privatisation; may resort to strike
5 years, 2 months ago

Air India pilots' union opposes privatisation; may resort to strike

India TV News  

Opposing privatisation of Air India, an airline pilots' union has threatened to go on strike unless their long pending demands related to salaries are addressed, according to a communication. The nearly 800-member strong Indian Commercial Pilots' Association, whose members fly narrow-body planes, has decided to work towards bringing all the unions at the airline under a common platform to oppose …

Jet Airways crisis: NCLAT allows Dutch court administrator to attend debt-laden airline's CoC meetings, sets aside NCLT order
5 years, 3 months ago

Jet Airways crisis: NCLAT allows Dutch court administrator to attend debt-laden airline's CoC meetings, sets aside NCLT order

Firstpost  

NCLT had barred Dutch Court Administrator from taking part in the Jet Airways insolvency proceedings in India. New Delhi: The National Company Law Appellate Tribunal has allowed the Dutch court administrator of Jet Airways to attend the Committee of Creditors meetings of the debt-ridden carrier. The Appellate Tribunal order came after the Resolution Professional of Jet Airways and Dutch Court …

NCLAT asks Jet Airways Interim Resolution Professional to cooperate with Dutch court administrator
5 years, 4 months ago

NCLAT asks Jet Airways Interim Resolution Professional to cooperate with Dutch court administrator

Firstpost  

The National Company Law Appellate Tribunal has directed the Resolution Professional of Jet Airways to cooperate with the Dutch Court Administrator, which is also conducting insolvency proceedings against the debt-ridden carrier New Delhi: The National Company Law Appellate Tribunal has directed the Resolution Professional of Jet Airways to cooperate with the Dutch Court Administrator, which is also conducting insolvency proceedings …

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 …

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 saga: Buyers await regulator’s scrutiny of airline’s flying license
5 years, 6 months ago

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

Live Mint  

With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of "national importance", the resolution professional is widely …

AdiGroup, employee consortium to bid for 75% of Jet Airways
5 years, 6 months ago

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

The Quint  

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

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

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 …

Insolvency proceedings initiated against debt-ridden Jet Airways; NCLT bench instructs resolution professional to file fortnightly progress report
5 years, 6 months ago

Insolvency proceedings initiated against debt-ridden Jet Airways; NCLT bench instructs resolution professional to file fortnightly progress report

Firstpost  

Jet Airways became the first domestic airliner to go into bankruptcy New Delhi: Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on 17 April and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal …

Insolvency proceedings initiated against Jet Airways
5 years, 6 months ago

Insolvency proceedings initiated against Jet Airways

India TV News  

Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on April 17 and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal admitted an insolvency petition filed by SBI on behalf of 26 lenders on …

How will Jet’s insolvency process play out?
5 years, 6 months ago

How will Jet’s insolvency process play out?

The Hindu  

The story so far: Jet Airways, the troubled private airline that has failed to meet its huge debt obligations, was admitted to the National Company Law Tribunal on Thursday. Mr. Goyal’s exit may give Jet’s lenders the confidence to infuse more money in case they decide to make the airline fully operational. Jet Airways is the first airline company in …

NCLT admits insolvency plea against Jet Airways, posts matter for next hearing on 5 July; RP directed to finish process in three months
5 years, 6 months ago

NCLT admits insolvency plea against Jet Airways, posts matter for next hearing on 5 July; RP directed to finish process in three months

Firstpost  

NCLT will allow lenders led by SBI to sell the company as a whole or sell its assets and bring to end weeks of uncertainty over Jet Airways’ future The bankruptcy court, National Company Law Tribunal, on Thursday, decided to admit an insolvency petition against Jet Airways Ltd filed by its creditors in an attempt to salvage some of their …

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 …

Banks Finally Take Jet Airways to Bankruptcy Court, But It May be Too Late to Save the Airline or Money
5 years, 6 months ago

Banks Finally Take Jet Airways to Bankruptcy Court, But It May be Too Late to Save the Airline or Money

News 18  

It is exactly two months to the day that Jet Airways ceased operations as India’s second largest airline by passengers. Since the airline had begun floundering some months before that fateful April day, the lenders’ consortium had been saying repeatedly that it will resolve the Jet mess outside the IBC process. But now, these same lenders may recover next to …

Jet Airways crisis: SBI-led consortium gives up revival bid, votes for bankruptcy court to recover Rs 8,000 cr dues
5 years, 6 months ago

Jet Airways crisis: SBI-led consortium gives up revival bid, votes for bankruptcy court to recover Rs 8,000 cr dues

Firstpost  

The Etihad-Hinduja consortium had reportedly shown interest in Jet Airways but not given a concrete proposal yet, forcing the lenders to take the NCLT plunge Mumbai: Harried bankers on Monday decided against an outright sale of Jet Airways to the lone bidder, instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues. The decision of the …

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival
5 years, 6 months ago

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival

Firstpost  

The bank said lenders have been making efforts to find a resolution for Jet Airways outside IBC but now have decided to seek a resolution within the IBC. Mumbai: State Bank of India-led consortium of lenders on Monday decided to send the now-grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete …

Jet Airways 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 …

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%
5 years, 6 months ago

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%

Firstpost  

Last week, the I-T Department summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case. Last week, the Income Tax Department had summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case, reported Business Today. Meanwhile, the shares of Jet Airways continued the downward …

Jet Airways crisis: NCLT asks operational creditors to again serve legal notices to airline, adjourns hearing to 20 June
5 years, 6 months ago

Jet Airways crisis: NCLT asks operational creditors to again serve legal notices to airline, adjourns hearing to 20 June

Firstpost  

The banks have appointed SBI Capital Markets as the investment banker to find an investor to scout investors for Jet Airways. By asking the two operational creditors — Shaman Wheels and Gaggar Enterprises — who have taken Jet Airways to NCLT, to again serve legal notices to the grounded airline, the tribunal is yet to admit the bankruptcy pleas. Jet …

Jet Airways shares plummet over 23% to an all-time low as stock exchanges set to impose trading restrictions
5 years, 6 months ago

Jet Airways shares plummet over 23% to an all-time low as stock exchanges set to impose trading restrictions

Firstpost  

Jet Airways shares tumbled to a fresh 52-week low of 84.80 on BSE. Its market capitalisation fell to Rs 986.03 crore with 15.61 lakh shares changing hands on BSE Shares of Jet Airways plummeted over 23 percent to an all-time low of Rs 84.80 on Thursday, a day after the National Stock Exchange of India said that shares of the …

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: Two operational creditors drag debt-laden airline to NCLT, next hearing on 13 June
5 years, 6 months ago

Jet Airways crisis: Two operational creditors drag debt-laden airline to NCLT, next hearing on 13 June

Firstpost  

The tribunal issued notices to Jet Airways and banks which own the airline now and posted the matter for further hearing on 13 June when it will decide on admitting or rejecting the bankruptcy pleas. Mumbai: In a major setback to the lenders’ revival/sale plan of the grounded Jet Airways, two operational creditors — Shaman Wheels and Gaggar Enterprises — …

Two operational creditors take Jet to NCLT, hearing on June 13
5 years, 7 months ago

Two operational creditors take Jet to NCLT, hearing on June 13

India TV News  

In a major setback to the lenders' revival/sale plan of the grounded Jet Airways, two operational creditors--Shaman Wheels and Gaggar Enterprises-- Monday moved the NCLT seeking bankruptcy proceedings against the airline. The tribunal issued notices to Jet Airways and banks which own the airline now and posted the matter for further hearing on June 13 when it will decide on …

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues
5 years, 7 months ago

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues

India Today  

Beleaguered airline Jet Airways has now landed at the NCLT. If the court accepts the plea, it could mark the end of the road for Jet Airways. The airline has a debt pile of over Rs 11,000 crore and all the investors who expressed the desire to invest in the airline have asked the banks to take a substantial haircut …

Jet Airways crisis: National Aviator's Guild urges Narendra Modi to ask SBI to release one month's staff salary
5 years, 8 months ago

Jet Airways crisis: National Aviator's Guild urges Narendra Modi to ask SBI to release one month's staff salary

Firstpost  

Jet Airways has not paid March salaries to its over 20,000 employees. Mumbai: The National Aviator’s Guild, which represents pilots of the grounded carrier Jet Airways on Saturday requested Prime Minister Narendra Modi to “direct” the airline’s lender State Bank of India to release one month’s salary of all the employees. In a late evening Letter to the respected Prime …

Jet Airways CEO tells staff no word from promoters, banks on salaries
5 years, 8 months ago

Jet Airways CEO tells staff no word from promoters, banks on salaries

Live Mint  

In a clear indication of lack of support from the lenders on further funding, Jet Airways chief executive Vinay Dube has said it is painful that there is no commitment on the part of the all stakeholders on paying salaries to the employees which are due in a few days. The airline suspended operations after the SBI-led consortium of lenders …

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees
5 years, 8 months ago

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees

Firstpost  

Last week bank unions had written to Prime Minister Narendra Modi demanding the government take over the carrier to secure the jobs of its employees Mumbai: With an uncertain future staring at over 22,000 employees of the grounded Jet Airways, bank unions Monday suggested offering special loans to them to tide of their financial crisis arising from non-payment of salaries. …

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, …

Arun Jaitley promised to look into Jet Airways’ issues: CEO
5 years, 8 months ago

Arun Jaitley promised to look into Jet Airways’ issues: CEO

India TV News  

Finance Minister Arun Jaitley has assured to look into cash-strapped Jet Airways’ issues that have forced the airline to halt operations temporarily, its chief executive Vinay Dube said Saturday. Dube, along with Maharashtra Finance Minister Sudhir Mungantiwar, civil aviation secretary Pradeep Singh Kharola, the airline’s chief financial officer Amit Agarwal, representatives of pilots, engineers, cabin crew and ground staff unions …

Jet executives meet Arun Jaitley, urge salary payment
5 years, 8 months ago

Jet executives meet Arun Jaitley, urge salary payment

Live Mint  

Senior executives of grounded Jet Airways met the Union finance minister Arun Jaitley on Friday and requested him to direct the banks to release at least one month's salary. Speaking to IANS, National Aviator's Guild Vice President Captain Asim Valiani said the Finance Minister assured them that he would look into all issues raised by the airline employees. The airline …

Jet Airways seeks government backing for salary payment
5 years, 8 months ago

Jet Airways seeks government backing for salary payment

Live Mint  

The leadership of distressed carrier Jet Airways Ltd. on Saturday sought government support in securing funds for paying part of salary dues to employees. Jet Airways chief executive officer Vinay Dube told reporters here after a meeting with finance minister Arun Jaitley on Saturday that the company has sought government support for securing funds for paying at least one month …

Jet Airways employees seek President's intervention for salary dues, emergency funds to airline
5 years, 8 months ago

Jet Airways employees seek President's intervention for salary dues, emergency funds to airline

India TV News  

Employees of Jet Airways have written to President Ram Nath Kovind and Prime Minister Narendra Modi seeking their intervention to recover outstanding dues as well as to expedite the process of emergency funds for the airline, which has shuttered its operations temporarily. "We request you to consider the situation with the urgency it deserves and direct the management of Jet …

Arun Jaitley promised to look into cash-strapped Jet Airways' issues: Airline CEO
5 years, 8 months ago

Arun Jaitley promised to look into cash-strapped Jet Airways' issues: Airline CEO

India Today  

Finance Minister Arun Jaitley has assured to look into cash-strapped Jet Airways' issues that have forced the airline to halt operations temporarily, its chief executive Vinay Dube said on Saturday. Dube, along with Maharashtra Finance Minister Sudhir Mungantiwar, civil aviation secretary Pradeep Singh Kharola, the airline's chief financial officer Amit Agarwal, representatives of pilots, engineers, cabin crew and ground staff …

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