Jet Airways crisis: Airline's survival under threat as lenders still undecided on funding; board to meet on Tuesday
5 years, 8 months ago

Jet Airways crisis: Airline's survival under threat as lenders still undecided on funding; board to meet on Tuesday

Firstpost  

Jet Airways chief executive Vinay Dube in an internal communication has said the lenders could not decide on the emergency funding and that the board of the airline will meet Tuesday to take a call on the future. Mumbai: Jet Airways’ survival remained under serious threat after its lenders on Monday deferred a much-anticipated decision to provide emergency funds to the carrier following a marathon meeting, even as its pilots’ union appealed to the lenders and the prime minister to save the airline. Jet Airways pilots’ union, the National Aviators Guild had Sunday deferred a decision to strike from Monday saying that it wanted to give more time to the airline ahead of the lenders’ meeting here. On 25 March, the airline’s board had approved ’the debt resolution plan’, under which SBI-led consortium would provide an emergency loan of Rs 1,500 crore and in turn acquire majority stake, following which founder chairman Naresh Goyal and wife Anita would leave the airline and pare his stake to around 25 percent.

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History of this topic

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer
8 months ago

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer

The Hindu  

The Supreme Court on Wednesday partly heard a State Bank of India-led consortium’s challenge to a decision of the National Company Law Appellate Tribunal to approve a resolution plan proposed by Jalan-Kalrock consortium for Jet Airways. Chandrachud, senior advocate Harish Salve, for the SBI consortium, said the situation has become a “nightmare” for the lenders. The lenders described the NCLAT …

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders
1 year, 7 months ago

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders

News 18  

The indefinite wait to see Jet Airways back in the skies continues for a while longer. Jalan-Kalrock consortium, who won the bid to takeover and restart the airline informed India’s bankruptcy court that it needs more time to repay creditors and implement the resolution plan. According to the January 13 verdict of the NCLT, the consortium is supposed to make …

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, …

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 Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March
4 years, 10 months ago

Jet Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March

Firstpost  

The decision to call for fresh bids was taken after a team from Russia’s Far East Asia Development Fund along with Enso Group met the CoC earlier this month and expressed interest in Jet Airways. Mumbai: Defunct airline Jet Airways’ Committee of Creditors has decided to issue fresh Expression of Interest for the carrier, which is undergoing insolvency proceedings, according …

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline
4 years, 10 months ago

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline

Firstpost  

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday The Committee of Creditors of grounded airline Jet Airways decided to extend the deadline for submission of bids to 10 March on Tuesday as a new entity has evinced interest in the airline, according to a source. #aviation https://t.co/cJwhEuapr1 — CNBC-TV18 February 18, …

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
4 years, 10 months ago

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline

Firstpost  

The second bidder, South America-based Synergy Group, did not submit a plan for Jet Airways and the group reportedly sought clarity on slots in the domestic and international routes of the grounded airline. Even as Jet Airways’ Committee of Creditors is to meet today to decide on extending deadline to two suitors that have evinced interest in the grounded airline, …

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. …

Hopes reignite for Jet Airways: NCLT asks lenders to release lifeline funds
5 years, 3 months ago

Hopes reignite for Jet Airways: NCLT asks lenders to release lifeline funds

India TV News  

The National Company Law Tribunal Wednesday directed the financial creditors of the grounded Jet Airways to release some interim lifeline funds within 15 days. However, other lenders like Yes Bank, Punjab National Bank, IDBI Bank, Bank of India, Indian Overseas Bank and Axis Bank are yet to release their portion. The RP of Jet Airways had moved NCLT on September …

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 …

Deadline to submit expressions of interest in Jet Airways extended to 10 August
5 years, 5 months ago

Deadline to submit expressions of interest in Jet Airways extended to 10 August

Live Mint  

The last date to submit expressions of interest for Jet Airways has been extended to 10 August after the company received interest from only a “couple of investors” by Saturday, the original deadline. “This is to bring to the attention of all interested resolution applicants that the revised deadline for submission stands at 4 pm on 10 August, 2019,” said …

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 …

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 …

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 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 …

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 …

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 …

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 revival: Asking banks to write off Rs 8,500-cr outstanding is unfairness at its worst
5 years, 7 months ago

Jet Airways revival: Asking banks to write off Rs 8,500-cr outstanding is unfairness at its worst

Firstpost  

There is no reason why the SBI-led lenders’ consortium should not prevail upon the new promoters to carry the dues as a liability in Jet Airways’ balance sheet with a moratorium period of, say 10 years. Be it Etihad Airways or the Hindujas or both teaming up and suitors before them, their common, almost reflex refrain, has been State Bank …

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, …

Jet's revival hope sinks as lenders struggle to find investor
5 years, 7 months ago

Jet's revival hope sinks as lenders struggle to find investor

India Today  

Mumbai-based airline Jet Airways hit another roadblock on Tuesday after four senior officials including the company's CEO Vinay Dube resigned. Meanwhile, the lenders of Jet Airways now face a stringent condition to prevent the temporarily grounded airline from becoming a non-performing asset. "Etihad re-emphasises that it cannot be expected to be the sole investor and that additional suitable investors would …

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 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 …

SBI has received 1 binding bid and 2 unsolicited bids for Jet Airways
5 years, 8 months ago

SBI has received 1 binding bid and 2 unsolicited bids for Jet Airways

India Today  

State Bank of India chairman Rajnish Kumar today ruled out the National Company Law Tribunal route for tje grounded Jet Airways airlines. In an exclusive chat with India Today TV, SBI chairman said, "It is the option when no option is left so NCLT is the last option." Etihad Airways PJSC, India's National Investment and Infrastructure Fund and private equity …

Now, employees and regular flyers come up with a plan to give Jet Airways wings
5 years, 8 months ago

Now, employees and regular flyers come up with a plan to give Jet Airways wings

Live Mint  

New Delhi: After a section of employees floated the proposal to take over management control of the grounded Jet Airways and arrange up to ₹3,000 crore from external investors, a group of frequent flyers of the cash-strapped airline has approached the key lenders, including State Bank of India, ICICI Bank and Punjab National Bank, to submit the 'Revival of Jet …

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks
5 years, 8 months ago

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks

Firstpost  

Unfortunately for Jet Airways employees, there is nothing to leverage with the grounded airline’s net worth in the negative. A group of Jet Airways employees, who had earlier offered to take over the distressed airline, met SBI Caps officials on Thursday to discuss the proposal. SBI Caps told the Jet Airways employees that their proposal would be considered only after …

Jet employees' consortium writes to SBI, seeks permission to bid for crisis-hit airline
5 years, 8 months ago

Jet employees' consortium writes to SBI, seeks permission to bid for crisis-hit airline

India Today  

As uncertainty continues over the fate of the shuttered Jet Airways, an employees' consortium has proposed to take over the airline with at least Rs 3,000 crore expected from outside investors for the bid, according to two staff unions. Two associations representing pilots and engineers -- SWIP and JAMEVA -- have written to State Bank of India Chairman Rajnish Kumar …

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 pilot union writes to PM Modi, seeks probe into airline's financial crisis
5 years, 8 months ago

Jet pilot union writes to PM Modi, seeks probe into airline's financial crisis

India Today  

"We are running out of time and losing our assets. In the letter, Chopra said: "We urge you to kindly intervene in the matter and order a probe to establish whether a larger conspiracy was at play or of any collusion between SBI and Etihad, as the only one decimated here, have been the Jet Airways employees and Jet Airways …

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 will do everything to revive airline: CEO
5 years, 8 months ago

Jet Airways will do everything to revive airline: CEO

India Today  

India's Jet Airways is constantly engaging with the government and lenders for a resolution of the current debt crisis and will not leave any stone unturned to revive the airline, its chief executive officer Vinay Dube told television channel ET Now in an interview. "But I would like to think that a flying Jet Airways makes definite sense for them …

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, …

Jet Airways confident of finding new investors, says CEO Vinay Dube
5 years, 8 months ago

Jet Airways confident of finding new investors, says CEO Vinay Dube

Live Mint  

Jet Airways Ltd is confident of the successful outcome of a share sale process initiated by its lenders that will potentially lead to new investors for the grounded airline, chief executive officer Vinay Dube said. The lenders may however face some hard bargaining from potential investors given Jet Airways has ceased to be a going concern. The government is separately …

Jet Airways crisis: Lenders keen on non-IBC resolution if bidding process fails
5 years, 8 months ago

Jet Airways crisis: Lenders keen on non-IBC resolution if bidding process fails

India TV News  

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, sources said. While lenders are "reasonably hopeful" of a successful bidding process, sources said banks are working on a plan B in case things don't progress as expected. …

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 …

Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets; proposals under consideration
5 years, 8 months ago

Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets; proposals under consideration

Firstpost  

New Delhi: Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said. The sources said the lenders are actively considering proposals, including from Air India, for utilising the planes owned by Jet Airways. Also, while the lenders …

Bank unions write to PM Modi, want govt to take over Jet Airways
5 years, 8 months ago

Bank unions write to PM Modi, want govt to take over Jet Airways

India TV News  

Bank unions Friday urged Prime Minister Narendra Modi to take over grounded Jet Airways to secure the future of the 22,000-odd employees of the carrier. In a letter to Modi, the All-India Bank Employees Association also said government must ensure that banks are not forced to lend to the crippled airline. "Everyone is looking at the banks to bail out …

Jet issues gag order, fearing impact on stake sale
5 years, 8 months ago

Jet issues gag order, fearing impact on stake sale

The Quint  

By Nirbhay Kumar New Delhi, April 19 The grounded Jet Airways has issued a gag order to its employees advising them to refrain from speaking with external stakeholders. An internal mail accessed by IANS suggests that talking with external stakeholders especially the media might impact the bidding process for airline's stake sale. The airline's revival now depends on successful stake …

Hard landing: Jet Airways' temporary halt
5 years, 8 months ago

Hard landing: Jet Airways' temporary halt

The Hindu  

To the long line of private airline carcasses dotting the bleak landscape of Indian aviation, one more may soon be added. Jet Airways announced a temporary halt of its operations from Wednesday night as funds to keep the airline going dried up. Despite intense lobbying by the bankrupt airline, banks stood firm on their decision to not release emergency funds …

The Most We Can Do Is Pass A Hat Around The Courtroom For Charity: Bombay HC CJ On Petition Seeking Jet Airways' Bailout
5 years, 8 months ago

The Most We Can Do Is Pass A Hat Around The Courtroom For Charity: Bombay HC CJ On Petition Seeking Jet Airways' Bailout

Live Law  

The Bombay High Court on Thursday dismissed a petition seeking a bailout of Jet Airways by a consortium of banks led by State Bank of India and "emergent funds by the government" for meeting day-to-day expenses. A bench of Chief Justice Pradeep Nandrajog and Justice NM Jamdar was hearing the petition filed by "frequent fliers" of the airline.Advocate Mathews Nedumpara …

DGCA to seek credible revival plan from Jet Airways: Official
5 years, 8 months ago

DGCA to seek credible revival plan from Jet Airways: Official

India TV News  

With cash-starved Jet Airways suspending operations, aviation regulator Directorate General of Civil Aviation on Thursday said it will ask the airline for a "concrete and credible" revival plan, as well as extend help within the regulatory framework. The DGCA would be asking the company for concrete and credible revival plan to restart the suspended operations, the official said. Issues related …

DGCA likely to seek credible revival plan from Jet Airways
5 years, 8 months ago

DGCA likely to seek credible revival plan from Jet Airways

Live Mint  

New Delhi: With cash-starved Jet Airways suspending operations, aviation regulator DGCA on Thursday said it will ask the airline for a "concrete and credible" revival plan, as well as extend help within the regulatory framework. The DGCA would ask the company for a concrete and credible revival plan to restart suspended operations, the official added. Issues related to slot allocation …

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured
5 years, 8 months ago

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured

Firstpost  

Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. 27 August: Jet posts June-quarter loss, …

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