Jet Airways' revival hopes gains strength as Etihad, NIIF likely to infuse about Rs 4,000 cr; Naresh Goyal to lose all positions
5 years, 10 months ago

Jet Airways' revival hopes gains strength as Etihad, NIIF likely to infuse about Rs 4,000 cr; Naresh Goyal to lose all positions

Firstpost  

If this investment happens, then the crisis-hit airline’s founder, Naresh Goyal and his wife will have to quit the board of Jet Airways as well as all other executive positions. Reviving the hopes of debt-laden Jet Airways to keep afloat, its equity partner Etihad Airways and a government-run sovereign wealth fund agency are expected to infuse about Rs 4,000 crore, said media reports. Meanwhile, Jet Airways on Monday defaulted on foreign loan repayment due to the liquidity crunch, amid Goyal seeking Rs 750 crore in urgent funding from Etihad citing the airline’s “very precarious” position, said a PTI report. Jet Airways denied a media report on Monday that it had secured a Rs 2,050 crore loan from state-owned Punjab National Bank to help pay overdue plane leasing fees and salaries, Reuters reported.

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History of this topic

Jet Airways' 1.43 lakh retail shareholders stare at wipeout after Supreme Court liquidation order
2 months, 1 week 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 …

Vijay Mallya condoles Naresh Goyal's wife Anita Goyal's death: 'Formidable competitor at Jet Airways’
7 months, 4 weeks ago

Vijay Mallya condoles Naresh Goyal's wife Anita Goyal's death: 'Formidable competitor at Jet Airways’

Hindustan Times  

Vijay Mallya, the former boss of Kishfisher Airlines, condoled the death of Anita Goyal, wife of Jet Airways founder Naresh Goyal. Vijay Mallya condoled the death of Naresh Goyal's wife Anita Goyal. The fugitive liquor baron, who is wanted in India for defaulting bank loans worth ₹9,000 crore, described Anita Goyal as a “formidable competitor” at Jet Airways. May truth …

Anita Goyal, Jet Airways founder Naresh Goyal's wife, dies of cancer
7 months, 4 weeks ago

Anita Goyal, Jet Airways founder Naresh Goyal's wife, dies of cancer

Hindustan Times  

Anita Goyal, wife of Jet Airways founder Naresh Goyal, passed away in the wee hours of Thursday in a hospital in Mumbai. Naresh Goyal and Anita Goyal A source close to the family told Times of India, “She passed away around 3 am. Anita's demise comes weeks after the Bombay High Court granted the couple a two-month-long interim bail in …

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit
1 year 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 …

Jet Airways' Naresh Goyal used wife, son to siphon off funds: Chargesheet
1 year, 2 months ago

Jet Airways' Naresh Goyal used wife, son to siphon off funds: Chargesheet

India Today  

The Enforcement Directorate, which is investigating money laundering charges against Jet Airways founder Naresh Goyal, filed a chargesheet against him on Tuesday in the Rs 538 crore Canara Bank fraud case. India Today exclusively accessed the chargesheet filed against Goyal and found that he allegedly misappropriated public funds obtained as business loans for various purposes, including commission to sales agents, …

₹538-crore loan fraud case: Jet Airways founder Naresh Goyal sent to Arthur Road jail
1 year, 4 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 …

Naresh Goyal arrested: Who is this Jet Airways founder in ED custody?
1 year, 4 months ago

Naresh Goyal arrested: Who is this Jet Airways founder in ED custody?

Hindustan Times  

The Enforcement Directorate on Friday arrested Jet Airways founder and former chairman Naresh Goyal in a money laundering case associated with an alleged fraud of ₹538 crore at Canara Bank. The ED had carried out raids against Goyal and others involved in the bank fraud case in July this year after Central Bureau of Investigation launched FIR against Jet Airways …

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, …

Jet Airways founder Naresh Goyal arrested by ED in alleged money laundering case
1 year, 4 months ago

Jet Airways founder Naresh Goyal arrested by ED in alleged money laundering case

Hindustan Times  

The Enforcement Directorate on Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of ₹538 crore at the Canara Bank. File photo of Jet Airways’ founder Naresh Goyal. Earlier on July 20, the ED conducted raids on Goyal, and his associates after the Central Bureau of Investigation registered an FIR …

Jet Airways Founder Naresh Goyal Arrested in Rs 538 Crore Bank Fraud Case
1 year, 4 months ago

Jet Airways Founder Naresh Goyal Arrested in Rs 538 Crore Bank Fraud Case

News 18  

The Enforcement Directorate on Friday arrested Jet Airways founder Naresh Goyal in the alleged Rs 538 crore Canara Bank fraud case, officials said. The was filed FIR on the basis of the Canara Bank’s complaint, alleging that it had sanctioned credit limits and loans to Jet Airways Limited of Rs 848.86 crore, of which an amount of Rs 538.62 crore …

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 …

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 …

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer
2 years, 10 months ago

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer

The Quint  

Kapoor was earlier also a part of SpiceJet. "I am certain he will be able to lead Jet Airways and make it become the most preferred full-service carrier of India. Sanjiv is a seasoned aviation professional who has the right blend and demeanour to stitch a team together," said Murari Lal Jalan, Lead Partner of the Jalan-Kalrock Consortium and proposed …

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 …

Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021
4 years ago

Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021

News 18  

The COVID-19 pandemic had a massive impact on the Indian aviation sector in 2020 and major airlines facing losses and challenging times laid off employees, sent them on leave without pay, or cut their salaries. The government, meanwhile, permitted special international passenger flights under Vande Bharat Mission since May and air bubble arrangements were formed with around 24 countries since …

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 …

'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. …

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 …

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, 5 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, 5 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, 5 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, 5 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, 5 months ago

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies

Live Mint  

Lenders to grounded Jet Airways Ltd have received expressions of interest from Anil Agarwal’s family trust, Panama-based fund Avantulo Group and a Russian firm, two people aware of the development said on the condition of anonymity. Access to prime slots at key airports, a stake in a profitable frequent flyer programme and a few relatively old planes appear to be …

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied
5 years, 6 months ago

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied

Live Mint  

New Delhi: A Twitter user gave an interesting advice to Mahindra group chairman Anand Mahindra. The user under the name of Lalit Mathpal suggested the tycoon buy the debt-ridden Jet Airways and name it Mahindra Airways. He has 7.03 million followers on Twitter The downfall of Jet Airways illustrates the challenge of making money in India's aviation sector, dominated by …

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 slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court
5 years, 6 months ago

Jet Airways slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court

Firstpost  

Exactly two months ago, Jet Airways took the decision to ground their flights after running out of cash. To be honest, the banks have been as clueless about their approach towards Jet Airways as the cash-strapped airline has been since the time they defaulted on the loans. So, SBI came out stating, “no problem, we will soon find a buyer …

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, 7 months ago

AdiGroup still interested in Jet Airways, but will wait only 48 hours: Report

Live Mint  

In a final push to revive the now grounded Jet Airways, London-based AdiGroup has again evinced interest in Jet Airways. According to industry insiders, the AdiGroup which was one of the unsolicited bidder for Jet is still interested to form a partnership with Etihad to operate the now grounded airline. The development comes after Jet's scrip continued to slip following …

Jet Airways shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts
5 years, 7 months ago

Jet Airways shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts

Firstpost  

Jet Airways’ scrip tumbled 10.58 percent to close at Rs 111.95 on the BSE. During the day, it plunged 14.41 percent to Rs 107.15 – its 52-week low New Delhi: Shares of Jet Airways Tuesday plummeted nearly 11 percent amid reports that Hinduja Group and Etihad Airways may not proceed with plans to resurrect the debt-ridden airline. According to a …

Jet Airways crisis: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%
5 years, 7 months ago

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

Firstpost  

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

Jet Airways 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 …

It's now Jet versus Jet as endgame nears
5 years, 7 months ago

It's now Jet versus Jet as endgame nears

India TV News  

Even as the lenders and the employees hope against hope and expect a white knight to rescue the grounded Jet Airways, the airline's promoter Naresh Goyal, now deboarded from the pilot seat, knew weeks back that it was time to abandon the sinking ship. Goyal's travel firm Jet Air in mid-May wrote to Jet Airways to vacate its premise in …

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 …

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, …

Grounded Jet Airways shares plummet over 24% in one month; market valuation erodes by Rs 451.26 cr to Rs 1,409 cr
5 years, 7 months ago

Grounded Jet Airways shares plummet over 24% in one month; market valuation erodes by Rs 451.26 cr to Rs 1,409 cr

Firstpost  

In one month, shares of Jet Airways tumbled 24.28 percent to Rs 124.10 on the BSE Friday from Rs 163.90 on 18 April New Delhi: Shares of Jet Airways have fallen over 24 percent in one month since the cash-starved airline suspended operations. Jet Airways witnessed top-level exodus earlier this week, with four senior executives, including chief executive Vinay Dube …

Jet Airways CEO Vinay Dube quits: With top executives deserting ailing airline, is there any hope left for its revival?
5 years, 8 months ago

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

Firstpost  

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

Jet Airways revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer
5 years, 8 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 …

Jet Airways revival: Etihad Airways bids for minority stake in beleaguered airline; SBI-led lenders’ consortium, NIIF to get hit
5 years, 8 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, 8 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 …

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