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 at airports in the wake of Jet Airways suspending operations were discussed at the meeting, an official said. On Thursday, lenders to Jet Airways said they were reasonably hopeful of a successful bidding process for a stake sale in the airline.

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History of this topic

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, …

Three years on, Jet Airways gets DGCA clearance to resume flight operations
2 years, 7 months ago

Three years on, Jet Airways gets DGCA clearance to resume flight operations

Hindustan Times  

The Directorate-General of Civil Aviation on Friday granted the air operator certificate to Jet Airways, paving the way for the airline to resume flight operations three years after it shut down after running into debt. Jet Airways Boeing 737 aircraft, VT-SXE, at Hyderabad for test flight on Thursday. Earlier this month, the Union home ministry granted security clearance to new …

Jet Airways takes to skies again after three-year hiatus
2 years, 8 months ago

Jet Airways takes to skies again after three-year hiatus

Firstpost  

Jet Airways, which has not flown since 17 April, 2019, is currently in the process of re-launching operations under its new promoters Jalan-Kalrock Consortium New Delhi: Jet Airways conducted its test flight to and from the Hyderabad airport on Thursday in a step towards obtaining the air operator certificate. Jet Airways, which has not flown since 17 April, 2019, is …

Why Jet Airlines' revival is caught in a 'slot-fixing' air pocket
3 years, 6 months ago

Why Jet Airlines' revival is caught in a 'slot-fixing' air pocket

India Today  

With the National Company Law Tribunal approving a resolution plan for Jet Airways submitted by the Murari Lal Jalan-Kalrock Capital consortium, there is a real possibility of the airline flying once again. Prime slots are crucial for an airline’s business, but most of the slots Jet Airways was allocated earlier were reallocated to other airlines after the former went through …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 6 months ago

Explained | What are the challenges Jet Airways faces before it can take off again?

The Hindu  

The story so far: Two years after Jet Airways — at the time India’s second-largest full-service airline — halted operations in 2019 as it ran out of cash, the carrier has a real chance at getting airborne again. When Jet Airways halted operations in 2019, the government distributed its airport slots among various other Indian carriers. At the time, the …

Kalrock-Jalan cleared to restart Jet
3 years, 6 months ago

Kalrock-Jalan cleared to restart Jet

The Hindu  

The National Company Law Tribunal, Mumbai, on Tuesday approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for the revival of Jet Airways two years after the airline shut down operations due to a cash crunch. “The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil …

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 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 insolvency: Will positively consider concrete business plan for troubled-airline, DGCA tells NCLT
5 years ago

Jet Airways insolvency: Will positively consider concrete business plan for troubled-airline, DGCA tells NCLT

Firstpost  

The Aviation Ministry and Directorate General of Civil Aviation on Tuesday informed the National Company Law Tribunal that they will positively consider any concrete business plan for the grounded Jet Airways Mumbai: The Aviation Ministry and Directorate General of Civil Aviation on Tuesday informed the National Company Law Tribunal that they will positively consider any concrete business plan for the …

Advance booking on re-allocated Jet slots for 3 more months
5 years, 4 months ago

Advance booking on re-allocated Jet slots for 3 more months

India TV News  

The Central government has extended the cap of three months on forwarding ticket bookings for flights operated on Jet Airway's airport time slots that have been re-allocated to other airlines. In April, the temporary suspension of Jet Airways' operations had created a capacity crunch in the domestic sector. Jet Airways on April 17 announced a temporary suspension of all flight …

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'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 …

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

Jet Airways issues gag order, fearing impact on stake sale

India TV News  

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 sale initiated by the lenders led by …

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 …

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 to seek credible revival plan from Jet Airways; will extend help within regulatory framework: Official
5 years, 8 months ago

DGCA to seek credible revival plan from Jet Airways; will extend help within regulatory framework: Official

Firstpost  

After weeks of uncertainty, Jet Airways on Wednesday announced temporary suspension of its operations as it did not receive emergency funds to stay afloat. 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. Issues …

Is Jet Airways Shutdown Really Temporary? Why Getting It Back in the Skies is Easier Said Than Done
5 years, 8 months ago

Is Jet Airways Shutdown Really Temporary? Why Getting It Back in the Skies is Easier Said Than Done

News 18  

New Delhi: Jet Airways has been grounded for now, even as its lenders and the management remain hopeful of a buyer coming forward to resuscitate the moribund airline. Any potential investor would perhaps also want to compare the costs and advantages/disadvantages of starting an airline from scratch versus getting Jet back to the skies. Not only will any potential investor …

Binding bids from investors to determine Jet Airways’ revival, say lenders
5 years, 8 months ago

Binding bids from investors to determine Jet Airways’ revival, say lenders

Live Mint  

Lenders to Jet Airways said on Thursday that they have decided, the best way forward for the survival of Jet Airways is to get the binding bids from potential investors. “The lenders after due deliberations decided that the best way forward for the survival of Jet Airways is to get the binding bids from potential investors who have expressed expression …

Jet Airways shut down temporarily for want of funds
5 years, 8 months ago

Jet Airways shut down temporarily for want of funds

Live Mint  

Mumbai: Jet Airways Ltd flew its last flight on Wednesday night—9W 2502 from Amritsar to Mumbai—after lenders declined to hand out emergency funds, bringing the curtains down on an era in which it broke into a state monopoly sector to become India’s largest private airline at one point. “A decision like this is never easy to make, but without the …

Jet suspends all flights after banks refuse to release funds
5 years, 8 months ago

Jet suspends all flights after banks refuse to release funds

The Hindu  

Jet Airways on Wednesday announced temporary suspension of all its international and domestic flights, with the last flight operating between Amritsar and Mumbai. In a filing before the Bombay Stock Exchange and a statement to the media, Jet Airways said it was informed by the State Bank of India, on behalf of the consortium of Indian lenders, that they were …

Jet Airways to ground all operations temporarily from tonight as lenders refuse to extend required financial support
5 years, 8 months ago

Jet Airways to ground all operations temporarily from tonight as lenders refuse to extend required financial support

Firstpost  

Jet Airways will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered Mumbai: With the lenders rejecting a lifeline of Rs 400 crore Wednesday Jet Airways, which has been on a wing and prayer since January, informed exchanges that it is forced to cancel all operations temporarily. An official announcement …

Indian airline Jet Airways collapses as banks pull the plug
5 years, 8 months ago

Indian airline Jet Airways collapses as banks pull the plug

CNN  

New Delhi CNN Business — Jet Airways has finally been grounded. “This has been a very difficult decision but without interim funding, the airline is simply unable to conduct flight operations,” Jet Airways said in statement. Jet Airways said it was informed late Tuesday by a consortium of lenders,led by the government-run State Bank of India, that they would not …

Jet Airways lenders working on revival, no final decision yet: PNB managing director Sunil Mehta
5 years, 8 months ago

Jet Airways lenders working on revival, no final decision yet: PNB managing director Sunil Mehta

Firstpost  

New Delhi: Lenders to the cash-strapped Jet Airways are committed to reviving the air carrier but nothing has been finalised yet, Punjab National Bank Managing Director Sunil Mehta said on Tuesday. On Monday, SBI said the bid process for the orderly sale of equity in Jet Airways is currently being run by SBI Caps and is being vetted by the …

Rising airfares: DGCA meets airlines, to engage with them for appropriate action
5 years, 8 months ago

Rising airfares: DGCA meets airlines, to engage with them for appropriate action

The Hindu  

The Directorate General of Civil Aviation would continue to monitor airfare movements on a daily basis and also engage with airlines for appropriate action, a senior official said on Tuesday amid concerns over rising ticket prices. Earlier in the day, Civil Aviation Minister Suresh Prabhu called for a review of issues related to the struggling Jet Airways, including rising fares …

Jet Airways lenders meet finance ministry officials amid shutdown reports
5 years, 8 months ago

Jet Airways lenders meet finance ministry officials amid shutdown reports

Live Mint  

While a discussion on Jet Airways’ revival is going on, no plan has been finalized, said Sunil Mehta, chief executive of Punjab National Bank. Jet Airways’ lenders have carried out a bidding process to sell up to 75% stake in the airline. Etihad Airways PJSC, India’s National Investment and Infrastructure Fund and private equity firms TPG Capital and Indigo Partners …

Jet Airways management said to propose temporary shutdown
5 years, 8 months ago

Jet Airways management said to propose temporary shutdown

Live Mint  

Mumbai/Bengaluru: The management of Jet Airways Ltd has proposed a temporary shutdown of the struggling airline, Indian media reported Tuesday, as the company awaits promised funds from banks in a rescue deal. Jet Airways shares fell as much as 18.3% to their lowest level since August 2015 following reports of a planned temporary shutdown, as the future of the once-dominant …

Banks turn wary as Jet is sinking
5 years, 8 months ago

Banks turn wary as Jet is sinking

India Today  

Jet Airways sank into a deeper crisis on Monday as Chief Executive Officer Vinay Dube said that the company failed to get the expected interim funding from the SBI-led consortium of banks after a marathon meeting held here with the lenders. Dube said the decision was taken following the non- receipt of funds from its lenders, who have taken over …

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 …

Jet Airways crisis: Pilots body defers 'no flying' call ahead of lenders meet today; airline withdraws services from SAARC routes
5 years, 8 months ago

Jet Airways crisis: Pilots body defers 'no flying' call ahead of lenders meet today; airline withdraws services from SAARC routes

Firstpost  

The guild, which has around 1,100 pilots as its members, decided to stop flying from 15 April in protest against non-payment of salaries since March Mumbai: Cash-strapped Jet Airways Sunday averted a deeper crisis after its pilots body, the National Aviatior’s Guild, deferred its “no flying” call to a later date from Monday, when the management is scheduled to meet …

Forced to step down, Naresh Goyal now returns to put in bid for cash-strapped Jet Airways
5 years, 8 months ago

Forced to step down, Naresh Goyal now returns to put in bid for cash-strapped Jet Airways

Firstpost  

Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt. Mumbai: Jet Airways founder Naresh Goyal has put in bid for buying stake in the ailing airline, sources said. Airline sources told PTI Goyal has put in bid for Jet Airways. Passengers stranded Meanwhile, the crisis …

Jet Airways to seek interim funding from lenders on Monday
5 years, 8 months ago

Jet Airways to seek interim funding from lenders on Monday

Live Mint  

Mumbai: Jet Airways Ltd, struggling to stay afloat and avoid being taken to the bankruptcy court, will on Monday meet with lenders—led by the State Bank of India —with a fresh demand for interim funding. SBI Capital Markets Ltd, which is managing a Jet Airways stake sale, got expressions of interest from about five investors until about an hour before …

Jet Airways: Flights cancelled with Indian carrier on brink of total collapse
5 years, 8 months ago

Jet Airways: Flights cancelled with Indian carrier on brink of total collapse

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Indian carrier Jet Airways appears to be on the point of total collapse, with almost …

Delay in interim funding reduces Jet Airways operations to a trickle
5 years, 8 months ago

Delay in interim funding reduces Jet Airways operations to a trickle

Live Mint  

New Delhi: A delay in interim funding, amid lender-driven stake sale and bailout plan, has cost Jet Airways Ltd dear. On 25 March, Jet Airways informed the stock exchanges about a bailout plan involving conversion of part of lenders’ debt into equity, changes in the board of directors and an “immediate interim finance from” banks to the tune of ₹1,500 …

DGCA asks airlines to increase number of flights to stabilise rising airfares
5 years, 9 months ago

DGCA asks airlines to increase number of flights to stabilise rising airfares

India TV News  

India's aviation regulator has asked all airlines to come out with an individual medium-term plan by Wednesday on enhancing the availability of domestic flights, in a move aimed at curbing rising airfares, government officials said. Airfares have been on an upswing across India for last few weeks due to sharp decline in the number of flights primarily caused by grounding …

Jet Airways debt-recast plan: Bidding process for cash-strapped airline likely to begin from today
5 years, 9 months ago

Jet Airways debt-recast plan: Bidding process for cash-strapped airline likely to begin from today

Firstpost  

Acute financial crunch has forced Jet Airways to ground aircraft, cancel flights and delay payment of salaries, including to pilots. Mumbai: The bidding process for stake sale in the cash-starved Jet Airways is likely to commence from Monday as the bid document is still to be given a final shape, a source said. The SBI-led consortium of 26 lenders, which …

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 …

Jet Airways' lenders may acquire substantial stake till new promoters come in: Report
5 years, 9 months ago

Jet Airways' lenders may acquire substantial stake till new promoters come in: Report

Firstpost  

The State Bank of India-led consortium of lenders is working on a resolution plan for the cash-strapped Jet Airways for the last five months. New Delhi: Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said. Sources said lenders of Jet Airways might pick up …

DGCA may bar Jet Airways from accepting advance bookings
5 years, 9 months ago

DGCA may bar Jet Airways from accepting advance bookings

Live Mint  

Aviation regulator DGCA may bar beleaguered carrier Jet Airways from taking advance bookings beyond a particular period amid reduced capacity and massive flight cancellations, an official said Thursday. "We may ask Jet Airways not to accept forward bookings beyond a particular period," a senior DGCA official told PTI. A senior official last month said the DGCA is reviewing the airline's …

Jet Airways planes to be redeployed if no restructure agreed this month, says lessor’s CEO
5 years, 10 months ago

Jet Airways planes to be redeployed if no restructure agreed this month, says lessor’s CEO

Firstpost  

“We have grounded our aircraft, we have control over our aircraft, but we have not terminated the leases and we are waiting for the airline to approve all its restructuring with the State Bank of India,” FLY Leasing CEO Colm Barrington told analysts on results call on Thursday Singapore: FLY Leasing Ltd has grounded three planes on lease to Jet …

Jet Airways seeks to raise about Rs 6,000 cr from govt fund, stake sale; shares rise 7.5%
5 years, 10 months ago

Jet Airways seeks to raise about Rs 6,000 cr from govt fund, stake sale; shares rise 7.5%

Firstpost  

et Airways said on Thursday its board had approved a rescue deal that will make its lenders its largest shareholders and fix a near Rs 8,500 crore funding gap. Jet Airways plans to raise about $840 million from a government fund and a rights issue, Business Television India said, a day after the company’s board approved a deal for some …

Banks propose $900 million turnaround plan for Jet Airways
6 years ago

Banks propose $900 million turnaround plan for Jet Airways

Live Mint  

Mumbai: Local lenders to Jet Airways Ltd, led by State Bank of India, on Tuesday proposed a $900 million resolution plan, comprising fresh equity infusion and restructuring of $450 million of its loans, two people directly aware of the development said. The resolution plan was shared with Jet Airways’ lessors and vendors at a meeting chaired by SBI and attended …

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