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 related to slot allocation at airports in the wake of Jet Airways suspending operations were discussed at the meeting, an official said. The civil aviation ministry, on Wednesday, said it would support the resolution process for Jet Airways within the existing regulatory framework.

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History of this topic

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 …

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 …

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 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 …

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 …

AdiGroup, employee consortium to bid for 75% of Jet Airways
5 years, 6 months ago

AdiGroup, employee consortium to bid for 75% of Jet Airways

The Quint  

New Delhi, June 28 London-based AdiGroup along with Jet Airways Employee Consortium have partnered to bid for 75 per cent stake of Jet Airways under the insolvency resolution process. The AdiGroup and Jet Employees Consortium combine is confident of reviving the airline by successfully bidding for the airline under the process. AdiGroup Chairman Sanjay Viswanathan said the combine expects a …

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, …

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

DGCA to seek credible revival plan from Jet Airways: Official

India TV News  

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

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

DGCA likely to seek credible revival plan from Jet Airways

Live Mint  

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

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 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 …

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 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 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 …

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