Jet’s liabilities prevented Etihad from lodging EoI
5 years, 4 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," Etihad Airways said in a statement. In 2013, Etihad Airways acquired a 24% stake in Jet Airways Ltd for $379 million. Since then, Etihad has consistently and constructively sought and advanced solutions to help resolve Jet’s issues," Etihad said in its statement.

Mumbai Airways Jet Etihad Jet Airways Eoi Etihad Airways  tribunal  liabilities  lodging  etihad  jets  stake  issues  india  24  statement  airline  airways  jet  prevented  eoi

History of this topic

In Latest Cost-Cut, Abu Dhabi's Etihad Airways to Sell 38 Aircraft in Billion Dollar Deal
4 years, 11 months ago

In Latest Cost-Cut, Abu Dhabi's Etihad Airways to Sell 38 Aircraft in Billion Dollar Deal

News 18  

Dubai: Abu Dhabi’s long-troubled Etihad Airways said on Tuesday that it will sell 38 aircraft to an investment firm and a leasing company in a deal valued at $ 1 billion. Etihad said it would sell 38 aircraft 22 Airbus A330s and 16 Boeing 777-300ERs in the deal with investment firm KKR and leasing firm Altavair AirFinance. Since 2016, Etihad …

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 crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities
5 years, 4 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, …

Days after submitting EoI for Jet Airways, Vedanta's Anil Agarwal says not interested in debt-laden airline
5 years, 4 months ago

Days after submitting EoI for Jet Airways, Vedanta's Anil Agarwal says not interested in debt-laden airline

Firstpost  

In April, Etihad had presented a conditional expression of interest to reinvest in Jet Airways as a minority stakeholder, with a partner, but it did not materialise. Mumbai: In the second major setback to the lenders bid to revive the grounded Jet Airways by selling it out, billionaire businessman Anil Agarwal, a day after announcing interest in the airline, Monday …

No longer interested in Jet Airways, says Anil Agarwal
5 years, 4 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, 4 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 …

Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways
5 years, 4 months ago

Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways

Firstpost  

Volcan Investment’s EoI is in now way connected to Vedanta, the company said in a statement Mumbai: Mining baron Anil Agarwal’s investment company, Volcan Investment, on Sunday said that it has shown interest in acquiring stake in defunct carrier Jet Airways. “Volcan Investment, investment company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways to …

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies
5 years, 4 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 …

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 …

Jet Airways shares plunge nearly 11% amid reports of Hinduja Group, Etihad Airways pulling out of recuse efforts
5 years, 6 months ago

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

Firstpost  

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

Jet Airways crisis: Hinduja Group, Etihad Airways reconsider investment; shares of airline slump as much as 14.8%
5 years, 6 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 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 …

Etihad still hopeful of Jet take-off push
5 years, 7 months ago

Etihad still hopeful of Jet take-off push

India Today  

While the clouds of uncertainty still loom large over the future of Jet Airways, the Gulf carrier Etihad is still hopeful on reviving the grounded airline. In a statement to India Today, Etihad said, "Etihad continues to work directly with key stakeholders in India to help find a solution which would ensure Jet's return as a viable and competitive Indian …

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 …

Etihad’s nominee director on Jet board Kamark puts in his papers
5 years, 7 months ago

Etihad’s nominee director on Jet board Kamark puts in his papers

Live Mint  

Etihad Airways PJSC’s nominee director to the board of Jet Airways Ltd, Robin Kamark, has resigned, adding to uncertainties around the future of the grounded airline. “.we wish to inform you that Mr. Robin Kamark, nominee director of Etihad Airways PJSC, resigned as director of the company with effect from 16 May 2019,” Jet Airways said in filing with the …

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 revival: Etihad Airways bids for minority stake in beleaguered airline; SBI-led lenders’ consortium, NIIF to get hit
5 years, 7 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, 7 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, 7 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 …

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 Airways debacle: Satyam-style model worked with Tech Mahindra but will not be answer to cash-strapped airline's fortunes
5 years, 8 months ago

Jet Airways debacle: Satyam-style model worked with Tech Mahindra but will not be answer to cash-strapped airline's fortunes

Firstpost  

So much so, even if IndiGo, for example, agrees to take Jet Airways in its wide wings on merger, it would not be enough because the cash crunch would spread from Jet Airways to Indigo. Tech Mahindra has taken this in its stride just as it had the Enforcement Directorate freezing more than Rs 800 crore of fixed deposits as …

Jet Airways revival at stake; shortlisted bidders find no value in parking funds in embattled airline
5 years, 8 months ago

Jet Airways revival at stake; shortlisted bidders find no value in parking funds in embattled airline

Firstpost  

Etihad, which was keen to buy controlling stake in Jet Airways, has reportedly had a second thought to go ahead with the investment process as it could not find any value left in the embattled airline. The hopes for revival of the temporarily grounded Jet Airways received a major blow as all the shortlisted bidders, including its former strategic partner …

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, …

Naresh Goyal's Jetair submits bid for Jet Airways with support from US, London firms; lenders unlikely to consider offer
5 years, 8 months ago

Naresh Goyal's Jetair submits bid for Jet Airways with support from US, London firms; lenders unlikely to consider offer

Firstpost  

Another report said that lenders to Jet Airways may not consider an initial bid from Goyal to regain control of the troubled airline as he did not fulfil certain conditions set by them while submitting the EoI on Friday. A consortium of US firm and Jet Airways founder Naresh Goyal’s Jetair has reportedly submitted the expression of interest for acquiring …

Naresh Goyal said to put in bid for Jet Airways
5 years, 8 months ago

Naresh Goyal said to put in bid for Jet Airways

Live Mint  

Mumbai: Jet Airways Ltd founder Naresh Goyal has put in his bid for buying stake in the crisis-hit airline, said people aware of the development. Goyal quit as Jet Airways chairman in March under a bailout plan that saw lenders, led by State Bank of India, taking control of the airline. The ongoing Jet Airways crisis deepened Friday as the …

Jet Airways, once India’s biggest airline, fights to keep flying
5 years, 8 months ago

Jet Airways, once India’s biggest airline, fights to keep flying

Live Mint  

Jet Airways India Ltd.’s fleet has shrunk by almost 90 percent as the cash-strapped airline struggles to find funds to operate, forcing the nation’s oldest surviving private airline to drastically curtail its scheduled flights amid a hunt for a new investor. The carrier, once India’s biggest by market capitalization, was forced to ground 10 more jets after it failed to …

Jet Airways cancels all long-haul international flights
5 years, 8 months ago

Jet Airways cancels all long-haul international flights

CNN  

CNN — Struggling Indian airline Jet Airways has canceled all its international flights, raising fears that it may be close to collapse. The airline said in a statement on Friday that it “has canceled its international operations from 12th to 15th April.” All of Jet’s long-haul services — including to London, Paris and Amsterdam — were suspended from Thursday night, …

Jet Airways hits a new low, bidding for 75% stake ends today
5 years, 8 months ago

Jet Airways hits a new low, bidding for 75% stake ends today

Live Mint  

Mumbai: With lessors grounding more Jet Airways Ltd planes, the airline suspended all of its international flights till Friday morning, even as a government official said the airline’s eligibility to fly abroad might be reviewed given that its fleet size had fallen below the required minimum. Meanwhile, Jet Airways founder Naresh Goyal pledged about 26% stake in the airline as …

Jet Airways stake sale: Etihad, TPG Capital among five companies submit EoIs to acquire crisis-hit airline shares
5 years, 8 months ago

Jet Airways stake sale: Etihad, TPG Capital among five companies submit EoIs to acquire crisis-hit airline shares

Firstpost  

SBI-led consortium of domestic lenders are implementing a debt resolution plan for Jet Airways, whose board approved the plan last month. Five companies reportedly submitted expressions of interest to buy stakes in Jet Airways after a lenders’ consortium led by State Bank of India put the shares on sale as part of a rescue plan, reported The Economic Times quoting …

Jet Airways shares rose over 3 per cent
5 years, 9 months ago

Jet Airways shares rose over 3 per cent

India TV News  

Shares of Jet Airways Monday rose over 3 per cent after State Bank of India invited bids from strategic as well as financial bidders for stake sale in the ailing firm. The scrip gained 3.14 per cent to close at Rs 264.10 on the BSE. On the National Stock Exchange, shares went up by 3.18 per cent to close at …

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 crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more
5 years, 9 months ago

Jet Airways crisis: SBI-led consortium draws out fresh plan to revive debt-laden airline; Etihad not keen to invest more

Firstpost  

Etihad, Jet Airways’ previous strategic partner, is not keen to invest more and hike its stake in the cash-strapped airline, said the report. The new rescue deal also proposes the exit of Etihad, as well as large haircuts for lenders, including a write-off of debt by the domestic lenders to Jet Airways, the report said. Last month, there were media …

Jet Airways crisis: over 1000 pilots decide to go ahead with the ‘no flying’ call from April 1
5 years, 9 months ago

Jet Airways crisis: over 1000 pilots decide to go ahead with the ‘no flying’ call from April 1

Op India  

The troubles of Jet Airways just seems to be getting worse. The National Aviators Guild, the body which claims representation of some 1,100 pilots at Jet Airways, had last week announced its decision not to fly from April 1 if their pending salaries were not cleared and transparency on the revival plan not provided by March 31. The collective decision …

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board
5 years, 9 months ago

Jet Airways likely to name former SBI chief Arun Kumar Purwar as chairman; lenders' consortium to have two nominees on board

Firstpost  

Shares of Jet Airways continued their upward journey on Wednesday and closed over 3 percent higher after Jet Airways set an ‘ambitious’ target of flying 40 additional aircraft by the end of April. Former State Bank of India chief Arun Kumar Purwar is expected to head the debt-ridden Jet Airways after its founder and chairman Naresh Goyal along with his …

What Jet Airways bailout plan means for SpiceJet, IndiGo
5 years, 9 months ago

What Jet Airways bailout plan means for SpiceJet, IndiGo

Live Mint  

One man’s loss is another’s gain. Late last week, investors piled on to shares of SpiceJet Ltd and InterGlobe Aviation Ltd, after Jet Airways Ltd’s troubles went from bad to worse. In other words, investors seem to have concluded that Jet Airways’ debt resolution plan will keep all three airlines in a happy place. During this time, Jet Airways’ market …

Jet Airways shares rally further; zoom nearly 9% as chairman Naresh Goyal steps down
5 years, 9 months ago

Jet Airways shares rally further; zoom nearly 9% as chairman Naresh Goyal steps down

Firstpost  

Jet Airways stock opened on a bullish note Tuesday and jumped 8.80 percent to Rs 276.90 on the BSE and at the NSE, shares advanced 8.93 percent to Rs 276.80. New Delhi: Shares of Jet Airways continued to rise for the second day Tuesday, zooming nearly 9 percent on the bourses following the exit of Founder and Chairman Naresh Goyal …

The highs and lows of Naresh Goyal’s turbulent time at Jet Airways’ helm
5 years, 9 months ago

The highs and lows of Naresh Goyal’s turbulent time at Jet Airways’ helm

Live Mint  

Mumbai: It takes sheer guts to found and fly an airline for 27 years, in a period that saw the ambitious launches of several Indian carriers that only got grounded a few years down the line. “But Tatas, suspecting revenue leakage, also made it amply clear that all of Jet’s existing vendor contracts including ground handling had to end,” this …

Are Jet Airways’ desperate lenders throwing good money after bad?
5 years, 9 months ago

Are Jet Airways’ desperate lenders throwing good money after bad?

Live Mint  

"It takes nerves of steel to stay neurotic,” Herb Kelleher, co-founder of Southwest Airlines, once famously said. The lenders, led by State Bank of India, said on Monday that they will pump in another ₹1,500 crore into Jet Airways, to get the airline in shape for an eventual sale. SBI chairman Rajnish Kumar said the bank expects Jet Airways to …

Expect to find a buyer for Jet Airways by 31 May: SBI chairman Rajnish Kumar
5 years, 9 months ago

Expect to find a buyer for Jet Airways by 31 May: SBI chairman Rajnish Kumar

Live Mint  

New Delhi: State Bank of India on Monday said that it expects investors for the cash-strapped Jet Airways Ltd by the end of May and founder Naresh Goyal has option of increasing his stake in the beleaguered airline to beyond 25% in the future. Naresh Goyal resigned as chairman of Jet Airways on Monday, two decades after he started the …

Jet Airways charts a new route as Naresh Goyal, wife Anita Goyal exit
5 years, 9 months ago

Jet Airways charts a new route as Naresh Goyal, wife Anita Goyal exit

Live Mint  

The unprecedented move will see Goyal lose control of an airline that he founded 27 years ago. It also culminates calls from Jet Airways’ lenders, as well as its 24% stakeholder, Etihad Airways PJSC, for Goyal to step down from the chairmanship. While the lenders ensured that the debt-laden airline is not grounded, it also turned out to be a …

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action
5 years, 9 months ago

Etihad not keen to make fresh investments in Jet Airways; 31 March board meet to decide course of action

Firstpost  

Early last week, Etihad had refused to participate in the debt-laden Jet Airways’ rights issue or infuse fresh funds under the current terms and conditions of the resolution plan. Etihad Airways now seems to be not as keen as it was earlier to infuse more funds into the debt-laden Jet Airways amid indications that the Abu Dhabi-based airline may even …

Jet Airways shares rise 15.5 per cent as Naresh Goyal resigns
5 years, 9 months ago

Jet Airways shares rise 15.5 per cent as Naresh Goyal resigns

India Today  

Shares of Jet Airways zoomed 15.5 per cent Monday with its founder and Chairman Naresh Goyal and his wife Anita Goyal stepping down from the crisis-hit airline's board. On the National Stock Exchange, shares zoomed 15.46 per cent to close at Rs 261 apiece. In the filing to the stock exchanges, Jet Airways said Naresh Goyal, Anita Goyal and one …

Jet Airways founder Naresh Goyal out as banks take control
5 years, 9 months ago

Jet Airways founder Naresh Goyal out as banks take control

CNN  

New Delhi CNN Business — The founder of India’s Jet Airways has been forced out as part of a government-backed bailout. In a regulatory filing, Jet Airways announced that Goyal and his wife will be stepping down from the board and Goyal will “also cease to be the chairman of the company.” India’s largest public bank, the State Bank of …

Why Jet Airways is under pressure?
5 years, 9 months ago

Why Jet Airways is under pressure?

The Hindu  

The story so far: Over the past few weeks, two-thirds of Jet Airways’ fleet has been grounded as talks over a bailout continue among Jet, its lenders and Etihad, which owns a 24% stake in the airline. Etihad also wants Jet promoter and chairman Naresh Goyal to play a less important role, going by its insistence on capping his stake …

Aviation stocks up 7% even as DGCA report shows slow passenger growth in February
5 years, 9 months ago

Aviation stocks up 7% even as DGCA report shows slow passenger growth in February

Firstpost  

New Delhi: Aviation stocks on Friday rallied up to 7 percent on the BSE even as DGCA’s data showed a slowdown in air passenger traffic in February. Similarly, cash-strapped airline Jet Airways advanced 3.60 percent to settle at Rs 225.85. As per a DGCA report released on Wednesday, the number of passengers flying domestic airlines dropped to 11.3 million in …

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