Air India chief meets SBI chairman over leasing Jet planes
5 years, 8 months ago

Air India chief meets SBI chairman over leasing Jet planes

Live Mint  

Air India chairman Ashwani Lohani held preliminary talks with his State Bank counterpart Rajnish Kumar in the Capital Friday on the national carrier's interest in leasing five Boeing 777s from the now-grounded Jet Airways, sources close to the development said. "During the meeting with Kumar, Lohani discussed his proposal on leasing five B777s of Jet Airways," the sources told PTI. As per these sources, the AI chairman will now take the proposal to the airline's board for approval, after more internal discussions and if all goes well, then the proposal will be sent to the aviation ministry for the final approval. The AI chairman had written to SBI chief Wednesday expressing interest in taking on lease five of the Boeing 777s from Jet and deploy them in key international routes.

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History of this topic

After Indigo, Air India signs pacts with Airbus, Boeing to buy 470 aircrafts
1 year, 6 months ago

After Indigo, Air India signs pacts with Airbus, Boeing to buy 470 aircrafts

India TV News  

Air India on Tuesday signed agreements with Airbus and Boeing for acquiring 470 planes for an estimated USD 70 billion at list prices. Air India said the agreements go "one step further in its USD 70 billion fleet expansion program that it announced in February this year". Campbell Wilson, Air India CEO, and MD said its ambitious fleet renewal and …

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, …

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 …

SpiceJet, Air India step in to clean up after Jet Airways
5 years, 8 months ago

SpiceJet, Air India step in to clean up after Jet Airways

Live Mint  

New Delhi/Mumbai: Budget airline SpiceJet Ltd and national carrier Air India Ltd have stepped in to stabilize India's aviation industry and ease the pain from wage losses caused by Jet Airways Ltd’s descent into insolvency and operational shutdown. Air India has, on its part, volunteered to temporarily use some of Jet Airways’ grounded planes on key international routes. Air India …

Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets; proposals under consideration
5 years, 8 months ago

Lenders explore ways to utilise 15 Jet Airways planes, protect valuable assets; proposals under consideration

Firstpost  

New Delhi: Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said. The sources said the lenders are actively considering proposals, including from Air India, for utilising the planes owned by Jet Airways. Also, while the lenders …

Air India chairman Ashwani Lohani likely to meet SBI chief over leasing of 5 wide-body Jet Airways planes
5 years, 8 months ago

Air India chairman Ashwani Lohani likely to meet SBI chief over leasing of 5 wide-body Jet Airways planes

Firstpost  

After the grounding of Jet Airways, Air India is the only domestic carrier now operating services on long haul and ultra-long haul routes Mumbai: Air India chairman Ashwani Lohani is likely to meet State Bank chairman Rajnish Kumar on Friday over the national carrier’s plans to lease five wide-body Boeing planes from the now grounded Jet Airways. Weighed down by …

Air India may lease five of Jet Airways' grounded planes, plans to operate them to London, Dubai and Singapore
5 years, 8 months ago

Air India may lease five of Jet Airways' grounded planes, plans to operate them to London, Dubai and Singapore

Firstpost  

Mumbai: National carrier Air India is looking at leasing five of the grounded carrier Jet Airways Boeing 777s and operate them to London, Dubai and Singapore. Jet Airways, grounded since last night, owns 10 wide-body Boeing 777-300 ER planes, along with a few Airbus A330s, which it used to operate on medium and long-haul international destinations such as London, Amsterdam …

Air India keen on taking 5 grounded Jet Boeings
5 years, 8 months ago

Air India keen on taking 5 grounded Jet Boeings

Live Mint  

New Delhi: Air India wants to take 4-5 wide-body Boeing 777 aircraft of the now-grounded Jet Airways and may hold discussions for it with the airline's lead lender State Bank of India. Jet Airways has 10 Boeing 777 in its fleet which it used to serve various popular destinations in Europe and North America before halting the entire international operations. …

As Jet halts flight operations temporarily, Air India eyes airline's routes to fly B777s
5 years, 8 months ago

As Jet halts flight operations temporarily, Air India eyes airline's routes to fly B777s

India Today  

National carrier Air India is hoping to take over some routes previously assinged to Jet Airways, after it was forced to temporarily shut operations on Wednesday. Air India on Thursday said it wants to fly a few of its Boeing-777 aircraft on the routes previously assgined by Jet Airways, which shut down after lenders refused to pay Rs 400 crore …

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 crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket
5 years, 8 months ago

Jet Airways crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket

India TV News  

Amid an unprecedented crisis in Jet Airways, airfares in India are continuously skyrocketing ever since the cash-strapped airline suspended its domestic and international flights. There was chaos at the Mumbai airport due to the suspension of Jet Airways flights," he said. Jet Airways is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals …

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries
5 years, 8 months ago

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries

Live Mint  

Mumbai: The employees union of Jet Airways Ltd, which is facing its worst crisis, has sought to register first investigation reports against the airline's founder Naresh Goyal, chief executive officer Vinay Dube and SBI chairman Rajnish Kumar for non-payment of March salaries, even as passengers continued to bear the brunt of last-minute cancellations and missing refunds. Over 200 Jet Airways …

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 grounds services to Kolkata, Pune among other destinations; is ailing airline heading for a crash-landing?
5 years, 8 months ago

Jet Airways grounds services to Kolkata, Pune among other destinations; is ailing airline heading for a crash-landing?

Firstpost  

Mumbai: Bracing for a possible shuttering, Jet Airways Thursday grounded services across the eastern and northeastern markets including to and from Kolkata, Patna, Guwahati and other airports in the region. In related developments, its board met in Mumbai and discussed “operational” issues, while airlines’ strategic partner Etihad Airways submitted initial bids for a higher stake in the crippled carrier. “Jet …

Avolon seeks to de-register two planes leased to Jet Airways
5 years, 9 months ago

Avolon seeks to de-register two planes leased to Jet Airways

Live Mint  

Singapore: Avolon, one of the world's biggest aircraft lessors, applied to de-register two planes it had placed with Jet Airways Ltd, making it the first lessor to do so on a non-consensual basis with the struggling Indian airline. Two subsidiaries of Dublin-based Avolon applied to India's Directorate General of Civil Aviation to de-register two Boeing 737-800s, according to notices published …

Jet Airways currently operational with only 15 aircraft, says aviation secretary P S Kharola
5 years, 9 months ago

Jet Airways currently operational with only 15 aircraft, says aviation secretary P S Kharola

Firstpost  

New Delhi: Less than 15 aircraft of Jet Airways are currently operational, Civil Aviation Secretary P S Kharola said on Wednesday. The SBI-led consortium of lenders had taken over the management of the cash-hit Jet Airways last month. Asked about the active fleet of the beleaguered airline, the Civil Aviation Secretary said here that “yesterday, it was 28”. On the …

SBI wanted to act tough, act fast on Jet Airways: Rajnish Kumar
5 years, 9 months ago

SBI wanted to act tough, act fast on Jet Airways: Rajnish Kumar

Live Mint  

Are you in talks with any investors currently? Who will take charge as the chairman of Jet Airways after Goyal’s exit? We have signed a binding agreement with both Etihad Airways and Jet Airways to ensure that they don’t come in the way of the sale process. To How do you ensure that Jet Airways will not go the Insolvency …

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 …

SBI boss insists bankruptcy ’last option’ for Jet Airways
5 years, 9 months ago

SBI boss insists bankruptcy ’last option’ for Jet Airways

Live Mint  

Bankruptcy is the "last option" for Jet Airways, State Bank of India's chairman said on Wednesday, adding that it might still be possible to draft in a new investor to keep the airline flying. "We believe it is in everybody's interest that Jet Airways continues to fly," SBI Chairman Rajnish Kumar told reporters after meeting government officials, adding that placing …

Cash-strapped Jet Airways grounds 4 more planes over non-payment of lease rentals
5 years, 9 months ago

Cash-strapped Jet Airways grounds 4 more planes over non-payment of lease rentals

India Today  

Cash-strapped Jet Airways has grounded four more plans after failing to repay lease rentals for them. "An additional four aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," the airline said in a filing to the stock exchanges. Jet Airways Chairman Naresh Goyal raised concern over the fact that more than 50 …

Jet Airways grounds seven more aircraft as the carrier fails to make payments to its lessors
5 years, 10 months ago

Jet Airways grounds seven more aircraft as the carrier fails to make payments to its lessors

Firstpost  

Aircraft lessors have been supportive of the company’s efforts to improve its liquidity, Jet Airways said. Debt-ridden Jet Airways Ltd said on Wednesday it grounded seven more aircraft as the carrier failed to make payments to its lessors. “As per instructions from Delhi ATC regarding airport closure, flight operations to / from Amritsar, Chandigarh, Jammu, Leh and Srinagar have been …

Troubles mount for debt-laden Jet Airways as nearly one-third of fleet likely to be grounded soon
5 years, 10 months ago

Troubles mount for debt-laden Jet Airways as nearly one-third of fleet likely to be grounded soon

Firstpost  

As many as 28 aircraft have already been grounded and by the end of February, another 14 planes will be grounded making it almost one-third of Jet Airways’ fleet of 123 planes. Nine of Jet Airways’ planes have been grounded by lessors, versus the four it reported last month, with AerCap Holdings NV and BOC Aviation Ltd among those who …

SBI is poised to control 15% of Jet Airways
5 years, 11 months ago

SBI is poised to control 15% of Jet Airways

Live Mint  

India’s largest lender State Bank of India is set to take an equity stake of at least 15 percent in Jet Airways India Ltd. as lenders to the carrier plan to convert part of their loans into equity, people with knowledge of the matter said. Under a new rescue deal in the works, the nation’s biggest full-service airline’s founder Chairman …

Jet Airways close to securing ₹1,500 crore loan from SBI
6 years ago

Jet Airways close to securing ₹1,500 crore loan from SBI

Live Mint  

New Delhi: India’s debt-laden Jet Airways is close to reaching a deal with State Bank of India for a fresh loan of ₹ 1,500 crore to meet its working capital needs, two people aware of the matter told Reuters.The airline has scheduled a meeting on 8 January with its vendors and lessors, many of whom are getting increasingly concerned over …

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