Jet Airways: Banks to invite bids to facilitate sale of stake in troubled airline
5 years, 9 months ago

Jet Airways: Banks to invite bids to facilitate sale of stake in troubled airline

India Today  

Lender banks of Jet Airways said on Thursday that they will soon invite bids to facilitate sale of stake in the troubled airstrike. Jet Airways is currently struggling under huge debt because of which it is not able to pay salaries of its employees including pilots. Some of the options that the banks can consider is declaring Jet Airways as bankrupt and taking it to National Company Law Tribunal for resolution under the Insolvency and Bankruptcy Code. On Wednesday, Jet Airways said that it is operating on "curtailed schedule" but has enoungh number of aircrafts and it is complying with DGCA directives.

Airways Jet Jet Airways  invite  interest  troubled  options  stake  sale  lenders  airline  bids  press  airways  banks  facilitate  jet  resolution

History of this topic

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, …

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 …

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 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: 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, …

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 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 …

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 …

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 quarterly results delayed amid 'complexities of issues'
5 years, 4 months ago

Jet Airways quarterly results delayed amid 'complexities of issues'

India TV News  

With the "complexities of issues" being faced by Jet Airways, financial results for the June quarter are yet to be finalised and the process is taking time, according to a communication. The affairs of Jet Airways, which closed down its operations on April 17, are now being managed by resolution professional Ashish Chhawchharia under the insolvency law. In the communication …

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 …

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 …

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 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 …

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: 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 …

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 …

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 …

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'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 revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer
5 years, 7 months ago

Jet Airways revival: Lenders plan to approach unsolicited bidders after Etihad Airways' non-binding offer

Firstpost  

The fund offer from Etihad Airways is not sufficient to overcome the liquidity crunch in Jet Airways as its total liabilities are reportedly about Rs 15,000 crore now. With the uncertainty persisting about the takeover of cash-strapped Jet Airways, lenders to the temporarily grounded airline are reportedly planning to approach unsolicited bidders as former strategic partner Etihad Airways has declined …

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 …

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 Airways shares plunge 22.5%, hit 1-year low amid reports hint at lack of interest among bidders to follow up EoI
5 years, 8 months ago

Jet Airways shares plunge 22.5%, hit 1-year low amid reports hint at lack of interest among bidders to follow up EoI

Firstpost  

Jet Airways ceased operations on 17 April after months of financial difficulties and multiple attempts at saving the oldest private sector airliner failed. New Delhi: Shares of Jet Airways plunged 22.5 percent on Thursday amid a report that bidders for Jet Airways so far appear uninterested in following up on their expressions of interest. Investors deserted the Jet Airways counter …

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 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 shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%
5 years, 8 months ago

Jet Airways shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%

Firstpost  

Shares of Jet Airways, which has shut down operations temporarily, continued to fall for the third day in a row on Monday, tumbling over 23 percent. New Delhi: Shares of Jet Airways Limited halted its three-day decline and surged 13 percent Tuesday on value buying at lower levels. On the traded volume front, 43.47 lakh shares of the company were …

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, …

11 Jet lenders could see a major haircut to their exposure
5 years, 8 months ago

11 Jet lenders could see a major haircut to their exposure

Live Mint  

Etihad Airways PJSC has asked lenders to Jet Airways Ltd to take an 80% haircut on their debt to the grounded airline for the Abu Dhabi-based carrier to make a bid, a person directly aware of the matter said. If accepted, the step would see as many as 11 banks forced to make sizeable writeoffs to their exposure to Jet …

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 …

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