How the Modi govt avoided an IL&FS repeat with Jet Airways
5 years, 9 months ago

How the Modi govt avoided an IL&FS repeat with Jet Airways

Live Mint  

New Delhi: Quick action on the Jet Airways crisis—emergency bank funding of ₹1,500 crore and the exit of chairman Naresh Goyal as part of a bailout plan—is the latest example of the government stepping in to prevent a high-profile corporate collapse. The Narendra Modi administration also leveraged its good relations with the United Arab Emirates to ensure that its carrier Etihad Airways PJSC remains on board, as far as any revival scheme for Jet Airways is concerned. All serious efforts are on to ensure that Jet Airways remains afloat as a going concern,” a person informed about discussions between Jet’s shareholders and lenders said on the condition of anonymity. Jet Airways’ troubles became public when the carrier had to defer announcement of its first quarter results last August saying certain matters needed closure.

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History of this topic

Jet Airways liquidation: Why India needs a new regime to save airlines
2 months ago

Jet Airways liquidation: Why India needs a new regime to save airlines

Live Mint  

Learning by doing is about the only way to master swimming, cycling or yoga, but does it apply to harnessing India’s Insolvency and Bankruptcy Code as well, particularly in the case of airlines? After Go Air, it is now Jet Airways’s turn to go into liquidation after an insolvency resolution process under IBC failed to sell the business as a …

Why Jet Airways 2.0 has yet to take off
2 years, 1 month ago

Why Jet Airways 2.0 has yet to take off

Live Mint  

Seventeen months since the National Company Law Tribunal approved the resolution plan for Jet Airways, the airline is yet to return to service. The consortium has deposited bank guarantees worth ₹150 crore, and says it will invest further only after the next steps of the resolution plan are fulfilled in terms of handover of the company. The resolution plan says …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 8 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos
2 years, 11 months ago

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos

Live Mint  

NEW DELHI: Here are the top 10 stocks that could be in focus on Monday: State Bank of India: The country's largest lender expects to recover around ₹8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. Future Retail: Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s …

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 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, 5 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, …

Jet Airways crisis: Etihad says not feasible to reinvest in cash-strapped airline, cites unresolved issues concerning liabilities
5 years, 5 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 …

AdiGroup still interested in Jet Airways, but will wait only 48 hours: Report
5 years, 7 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, 7 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, 7 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 …

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 Airways revival: Etihad Airways bids for minority stake in beleaguered airline; SBI-led lenders’ consortium, NIIF to get hit
5 years, 8 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 submits binding bid; State Bank of India says it has received two unsolicited bids
5 years, 8 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 employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks
5 years, 8 months ago

Jet Airways employees’ bailout offer: No harm in trying because buyer apathy in any case stares at banks

Firstpost  

Unfortunately for Jet Airways employees, there is nothing to leverage with the grounded airline’s net worth in the negative. A group of Jet Airways employees, who had earlier offered to take over the distressed airline, met SBI Caps officials on Thursday to discuss the proposal. SBI Caps told the Jet Airways employees that their proposal would be considered only after …

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, …

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. …

Filmmaker turned journalist insinuates the fall of Jet Airways being PM Modi’s fault, uses it to deride BJP’s ‘Vikas’ agenda
5 years, 8 months ago

Filmmaker turned journalist insinuates the fall of Jet Airways being PM Modi’s fault, uses it to deride BJP’s ‘Vikas’ agenda

Op India  

India’s first private airline Jet Airways have been facing a huge financial crisis since months. Etihad Airways, which owns 24% in Jet, was to infuse capital into the airlines to solves its financial crisis, but the talks are stalled over several disagreements. Vinod Kapri, the group editor of TV9 Bharatvarsh, whose Modi hatred is well known, attempted to pin the …

Five things that went wrong for Jet Airways
5 years, 8 months ago

Five things that went wrong for Jet Airways

The Hindu  

April 17, 2019 02:11 pm | Updated November 28, 2021 12:28 pm IST - Mumbai Jet Airways was teetering on the brink of collapse on Wednesday, operating just five planes and waiting for lenders to release emergency funds to keep the debt-saddled carrier flying. Costly purchase Many aviation experts believe the start of Jet's financial troubles can be traced back …

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, 9 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, 9 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 …

Jet Airways, once India’s biggest airline, fights to keep flying
5 years, 9 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 creditors wait for takeover bids as deadline looms
5 years, 9 months ago

Jet Airways creditors wait for takeover bids as deadline looms

Live Mint  

Mumbai: The fate of debt-laden Jet Airways India Ltd., the country’s oldest surviving private airline, could be determined as soon as a creditor-imposed deadline for takeover bids runs out on Wednesday. Creditors led by State Bank of India had not received any bids for as much as 75% of Jet Airways as of Tuesday, though that doesn’t mean that offers …

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 …

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 crisis: Good outcome from creditors-company negotiations better than insolvency, says govt official
5 years, 9 months ago

Jet Airways crisis: Good outcome from creditors-company negotiations better than insolvency, says govt official

Firstpost  

Corporate Affairs Secretary Injeti Srinivas was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code New Delhi: As Jet Airways battles acute financial woes, a senior government official Monday said a “good outcome” from the negotiations between the creditors and the company would be better than moving for …

Jet Airways crisis: SBI forgets it is neither debt-ridden airline's promoter nor nation’s conscience keeper
5 years, 9 months ago

Jet Airways crisis: SBI forgets it is neither debt-ridden airline's promoter nor nation’s conscience keeper

Firstpost  

For SBI to say that it has to infuse equity into the nosediving Jet Airways amounts to the worst kind of mixing up of roles At the height of the IL&FS crisis, Life Insurance Corporation of India swore that it could not possibly see its baby go down the chute. LIC, along with a few other public sector financial companies, …

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 …

Etihad unlikely to get on board with Jet Airways bailout plan
5 years, 10 months ago

Etihad unlikely to get on board with Jet Airways bailout plan

Live Mint  

Mumbai: Etihad Airways PJSC is unlikely to agree to a provisional debt resolution plan proposed by lenders for the crisis-hit Jet Airways Ltd, said two people directly aware of the development. A meeting of the board of Etihad in Abu Dhabi on Tuesday remained inconclusive, with several members expressing reservations about the terms proposed by the lenders that included adding …

Jet Airways' revival hopes gains strength as Etihad, NIIF likely to infuse about Rs 4,000 cr; Naresh Goyal to lose all positions
5 years, 10 months ago

Jet Airways' revival hopes gains strength as Etihad, NIIF likely to infuse about Rs 4,000 cr; Naresh Goyal to lose all positions

Firstpost  

If this investment happens, then the crisis-hit airline’s founder, Naresh Goyal and his wife will have to quit the board of Jet Airways as well as all other executive positions. Reviving the hopes of debt-laden Jet Airways to keep afloat, its equity partner Etihad Airways and a government-run sovereign wealth fund agency are expected to infuse about Rs 4,000 crore, …

Etihad will invest in Jet Airways, but several conditions apply
5 years, 10 months ago

Etihad will invest in Jet Airways, but several conditions apply

Live Mint  

Mumbai: Etihad Airways PJSC, which owns a 24% stake in Jet Airways Ltd, has set several conditions before its next round of proposed investment in the cash-strapped airline. Etihad has also sought completion of the ₹4,000 crore interim financing as per terms agreed upon by Etihad, Jet Airways founder and chairman Naresh Goyal and a group of lenders led by …

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 …

Etihad hits the pause button on Jet Airways’ rescue deal
5 years, 10 months ago

Etihad hits the pause button on Jet Airways’ rescue deal

Live Mint  

Seen as the white knight for ailing Jet Airways Ltd, Etihad Airways PJSC seems to have hit the pause button on equity infusion talks and has sought clarity on several contentious issues, two people familiar with the matter said, requesting anonymity. Etihad has not been able to find a local partner to replace Jet’s founder-chairman Naresh Goyal, who will have …

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 …

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO
5 years, 10 months ago

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO

Live Mint  

Jet Airways and Etihad Airways on Monday said they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline. On Sunday, officials associated with the lenders and key shareholders said SBI was considering moving the tribunal seeking insolvency proceedings against Jet Airways since it is running out of money for operations. …

Opinion | The rescue plan for Jet Airways is touch-and-go
5 years, 10 months ago

Opinion | The rescue plan for Jet Airways is touch-and-go

Live Mint  

For Jet Airways Ltd, it’s always only about one rupee. On the other hand, chief financial officer Amit Agarwal said on a conference call that the deal with banks would cut the debt burden by “1 rupee.” How will new funds enter the business? To this ₹4,000 crore equity infusion, add the ₹1,700 crore aircraft debt, which can be repaid …

Opinion | The rescue plan for Jet Airways is touch-and-go
5 years, 10 months ago

Opinion | The rescue plan for Jet Airways is touch-and-go

Live Mint  

For Jet Airways Ltd, it’s always only about one rupee. On the other hand, chief financial officer Amit Agarwal said on a conference call that the deal with banks would cut the debt burden by “1 rupee.” How will new funds enter the business? To this ₹4,000 crore equity infusion, add the ₹1,700 crore aircraft debt, which can be repaid …

Jet Airways poised to get ₹600 crore emergency loan
5 years, 11 months ago

Jet Airways poised to get ₹600 crore emergency loan

Live Mint  

Mumbai: Jet Airways India Ltd., the beleaguered carrier that’s in the midst of bailout talks with its partner and lenders, is set to get an emergency loan of as much as 6 billion rupees to help it tide over a cash crunch, according to people familiar with the matter. The fund infusion would come as a lifeline for Jet Airways, …

Jet Airways says stakeholders yet to agree and approve resolution plan
5 years, 11 months ago

Jet Airways says stakeholders yet to agree and approve resolution plan

Live Mint  

Jet Airways Ltd. on Friday said that stakeholders of the airline and board of directors of the company are yet to agree and approve the resolution plan that is expected to infuse much needed capital in the company. "The said resolution plan which, inter alia, contemplates various options on the debt equity mix and proportion of equity infusion by the …

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 …

Timeline: How things went from bad to worse for Jet Airways
5 years, 11 months ago

Timeline: How things went from bad to worse for Jet Airways

Live Mint  

Bengaluru: Cash-strapped Jet Airways Ltd has flown straight into a storm, resulting in a major setback for India's largest full-service airline that could shake up the country's aviation industry. Jet, which has debt exceeding 80 billion rupees as of September-end, has been steadily losing market share to its rival and low-cost carrier IndiGo, which is owned by InterGlobe Aviation Ltd. …

How Jet Airways is casting a shadow on India’s coming elections
5 years, 11 months ago

How Jet Airways is casting a shadow on India’s coming elections

Live Mint  

India’s Prime Minister Narendra Modi rode to power five years ago on his business friendly credentials and the promise of generating millions of jobs. Rescue Bid As the crisis at Jet Airways unfolded last year, Modi’s government reached out to the salt-to-software Tata Group to help rescue the airline, people familiar with the matter said in November, an effort that …

Naresh Goyal refuses to cede control of Jet Airways
5 years, 11 months ago

Naresh Goyal refuses to cede control of Jet Airways

Live Mint  

Mumbai: The saga of Jet Airways Ltd continues, with its founder and promoter Naresh Goyal making a financial offer to State Bank of India to retain control of the ailing airline, even as its single-largest public shareholder, Etihad Airways PJSC, has sought to oust him in exchange for infusing much-needed funds. Goyal has told SBI, Jet Airways’ largest lender, that …

Narendra Modi govt's dilemma: Should Etihad be allowed to raise its stake in Jet Airways jeopardising FDI rules or let airline fail?
5 years, 11 months ago

Narendra Modi govt's dilemma: Should Etihad be allowed to raise its stake in Jet Airways jeopardising FDI rules or let airline fail?

Firstpost  

Allowing Etihad to take the controls by ousting Jet Airways’ founder and majority owner Naresh Goyal would make financial and strategic sense Mumbai: Narendra Modi faces an airborne dilemma. To keep Jet Airways flying, the prime minister may have to choose between relaxing foreign ownership rules for Abu Dhabi-backer Etihad, and letting state lenders take a hit on a private …

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