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 new bidder showed interest post-10 August deadline. After the deadline, the South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek the lenders’ nod to extend the deadline to 31 August. The bankruptcy court had on 20 June appointed Ashish Chhawchharia as RP, who late last month had floated EoIs for the airline that stopped flying mid-April.

Bank Interest Crore Airline Aug Deadline Lenders Jet Jet Airways Eoi 31 August  sale  extension  interest  stake  aug  creditors  rp  eoi  airline  rs  crore  lenders  jet  eois  airways  bankrupt  deadline

History of this topic

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing
1 year, 7 months ago

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing

India TV News  

Alliance Air : Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd, a special-purpose vehicle formed by the central government. The finance ministry has approved an equity infusion of …

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, …

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 insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%
4 years, 7 months ago

Jet Airways insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%

Firstpost  

Jet Airways insolvency resolution professional on Wednesday invited fresh expressions of interest for the grounded airline Mumbai: Jet Airways insolvency resolution professional on Wednesday invited fresh expressions of interest for the grounded airline. In March this year, the National Company Law Tribunal had allowed 90 days’ extension for the corporate insolvency resolution process of the airline. This came after the …

Air India sale: Govt extends deadline to bid for cash-strapped national carrier till 30 April
4 years, 9 months ago

Air India sale: Govt extends deadline to bid for cash-strapped national carrier till 30 April

Firstpost  

The government on Friday extended the deadline for submitting bids for buying 100 percent stake in Air India till 30 April New Delhi: The government on Friday extended the deadline for submitting bids for buying 100 percent stake in Air India till 30 April. Home Minister Amit Shah-led ministerial panel on Air India decided on extending the deadline for submission …

Government extends deadline to bid for Air India till April 30
4 years, 9 months ago

Government extends deadline to bid for Air India till April 30

India TV News  

The government on Friday extended the deadline to bid for Air India till April 30, from March 17. Home Minister Amit Shah-led ministerial panel on Air India decided on extending the deadline for submission of expression of interest by interested bidders till April 30. While extending the date, the Department of Investment and Public Asset Management in a notification said …

Jet Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March
4 years, 10 months ago

Jet Aiways revival: Grounded airline's lenders to issue fresh EoIs; creditors’ panel extends resolution plans deadline to 9 March

Firstpost  

The decision to call for fresh bids was taken after a team from Russia’s Far East Asia Development Fund along with Enso Group met the CoC earlier this month and expressed interest in Jet Airways. Mumbai: Defunct airline Jet Airways’ Committee of Creditors has decided to issue fresh Expression of Interest for the carrier, which is undergoing insolvency proceedings, according …

Jet Airways lenders to seek fresh Expression of Interest for the carrier
4 years, 10 months ago

Jet Airways lenders to seek fresh Expression of Interest for the carrier

Live Mint  

Defunct airline Jet Airways' Committee of Creditors has decided to issue fresh Expression of Interest for the carrier, which is undergoing insolvency proceedings, according to a regulatory filing. "We wish to inform that the 8th CoC meeting of Jet Airways Ltd was held on February 18 and in the e-voting concluded on February 25, the CoC passed the resolution to …

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, …

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline
5 years ago

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline

Firstpost  

Earlier in June, the Hinduja Group had backed out of bidding for the Naresh Goyal-owned airline as they felt it was too risky for them to get involved due to the then ongoing government investigations and the insolvency pleas submitted by operational creditors at the NCLT, The Hinduja group is still keen to bid for the grounded airline, Jet Airways. …

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 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 …

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 …

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," …

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 …

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 …

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 …

Insolvency proceedings initiated against Jet Airways
5 years, 6 months ago

Insolvency proceedings initiated against Jet Airways

India TV News  

Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on April 17 and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal admitted an insolvency petition filed by SBI on behalf of 26 lenders on …

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 …

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 …

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 …

Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar
5 years, 7 months ago

Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar

Live Mint  

New Delhi: It may not be over till it is over. Even as some industry veterans believe that grounded Jet Airways may have hit the end of the road, State Bank of India Chairman Rajnish Kumar remains optimistic that clarity over the future course of the airline will emerge in a week's time. Private equity firm TPG Capital, Indigo Partners, …

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

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

Firstpost  

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

Jet'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 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 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: 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 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 shares crash ahead of auction
5 years, 8 months ago

Jet shares crash ahead of auction

India Today  

Jet Airways Ltd shares crashed by over 32 per cent on Thursday amid fears about whether the grounded airline would ever fly again even as banks claimed that they "are reasonably hopeful'' of selling the airline to a new investor. Shares of Jet Airways continued to fall for the second day in a row, plummeting by as much as 32.23 …

Jet Airways lenders 'reasonably hopeful' of getting successful bids for grounded cash-strapped airline
5 years, 8 months ago

Jet Airways lenders 'reasonably hopeful' of getting successful bids for grounded cash-strapped airline

Firstpost  

Jet Airways still has a market capitalisation of about $400 million, as investors have clung to hopes of a rescue deal being clinched. Mumbai: Lenders to India’s Jet Airways Ltd said on Thursday they are “reasonably hopeful” that the bidding process for the grounded airline will end successfully. Jet Airways, once India’s largest private airline, on Wednesday evening halted all …

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 CEO says all jobs can't be secured during sale process; has 'no answer' for fate of over 20,000 employees
5 years, 8 months ago

Jet Airways CEO says all jobs can't be secured during sale process; has 'no answer' for fate of over 20,000 employees

Firstpost  

Mumbai: Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube on Wednesday said the airline does not have an “answer” at present on the fate of its 20,000-odd employees during the stake sale process. The SBI-led consortium of lenders has offered prospective bidders ownership of the airline anywhere between 31.2 percent and 75 for which …

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