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NCLT admits insolvency plea against Jet Airways

NCLT admits insolvency plea against Jet Airways

🕔21:36, 20.Jun 2019

Mumbai, June 20  The National Company Law Tribunal (NCLT) on Thursday admitted the State Bank of India’s insolvency plea against the now-grounded Jet Airways. The Mumbai bench of the tribunal has directed the Insolvency Resolution Professional (IRP) to make efforts

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Jet shares ends 40% lower, 2 independent directors resign

Jet shares ends 40% lower, 2 independent directors resign

🕔07:31, 19.Jun 2019

Mumbai, June 19  Jet Airways saw one of the worst days of its trading history on Tuesday as investors distanced themselves from the grounded airline after its lenders decided to initiate bankruptcy proceedings to recover dues. Jet scrip hit their

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Aviation Minister offers hope as Jet Airways sinks deep

Aviation Minister offers hope as Jet Airways sinks deep

🕔07:19, 15.Jun 2019

New Delhi, June 15  Amid dwindling hopes of Jet Airways’ revival, Aviation Minister Hardeep Singh Puri on Friday exuded confidence that a solution would be found for the defunct carrier. “(We are) very confident that we can solve the problems

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RoC submits report on Jet Airways’ books to ministry

RoC submits report on Jet Airways’ books to ministry

🕔19:00, 8.May 2019

New Delhi, May 8  The Registrar of Companies (Mumbai) has submitted the inspection report of the beleaguered Jet Airways’ books to the Corporate Affairs Ministry which will shortly start examining the details. “Action will be based on the inspection report

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Air India won’t take B777s from Jet

Air India won’t take B777s from Jet

🕔12:49, 6.May 2019

New Delhi, May 6  State-run Air India has decided not to pursue its plan to take B777s from grounded Jet Airways as it has found it commercially unviable given their huge maintenance requirement. “The engineering unit has done the work

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Jet staff confident of securing Rs 3,000 cr fund, seek SBI nod to bid

Jet staff confident of securing Rs 3,000 cr fund, seek SBI nod to bid

🕔07:18, 30.Apr 2019

New Delhi, April 30  Sensing the options to revive the grounded Jet Airways are fast running out, a group of airline employees has written to SBI seeking permission to allow a consortium of employees and external investors to bid for

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Jet’s historic rights on slots protected: Government

Jet’s historic rights on slots protected: Government

🕔20:33, 23.Apr 2019

New Delhi, April 23 (IANS) Amid concerns raised by investors bidding for a stake in the grounded Jet Airways, the Civil Aviation Ministry (MoCA) on Tuesday said that historic rights of slots of the financially crippled airline across various airports would

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Banks can lend to pay Jet Airways salaries: AIBEA

Banks can lend to pay Jet Airways salaries: AIBEA

🕔15:00, 22.Apr 2019

Chennai, April 22  The banks can lend some money to Jet Airways specifically for the purpose of paying employee salaries, a major bank employees’ union official said on Monday. This amount can be lent by the consortium of lenders to

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Investors demand write-offs as Jet owes over Rs 11K cr outstanding debt

Investors demand write-offs as Jet owes over Rs 11K cr outstanding debt

🕔13:51, 22.Apr 2019

Mumbai, April 22  Prospective investors in the temporarily grounded Jet Airways have asked lenders to take a massive haircut or write-off around 80 per cent outstanding debt of the airline which is more than Rs 11,000 crore, document and sources

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Air India takeover of Jet will ensure lucrative routes

Air India takeover of Jet will ensure lucrative routes

🕔06:37, 20.Apr 2019

Chennai, April 20  Government-owned Air India can take over Jet Airways and get back the lucrative international/domestic routes if there are no white knight for the private airline, said a top All India Bank Employees’ Association (AIBEA) leader. “The government-owned

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Jet to suspend ops; Govt calls meeting

Jet to suspend ops; Govt calls meeting

🕔19:24, 17.Apr 2019

Mumbai, April 17  Around 20,000 employees and passengers were hit hard as Jet Airways announced temporary suspension of all flight services from Wednesday night as it failed to secure interim funding for maintaining even bare minimum operations. At present, the

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Jet seeks Rs 400 cr instant funds to avoid closure

Jet seeks Rs 400 cr instant funds to avoid closure

🕔06:53, 17.Apr 2019

Mumbai, April 17  Jet Airways, which is on the verge of collapse, on Tuesday reportedly requested lenders for Rs 400 crore interim funding of to stave off temporary closure, even as its operational fleet shrunk to five aircraft. According to

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Prabhu asks review of Jet Airways-linked issues

Prabhu asks review of Jet Airways-linked issues

🕔18:03, 16.Apr 2019

New Delhi, April 16  Civil Aviation Minister Suresh Prabhu on Tuesday directed his Ministry officials to review issues related to high airfares, passenger rights and safety as the finically challenged Jet Airways struggles to stay afloat. “Directed Secretary @MoCA_GoI to

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Decision to stop flying after Monday meet: Jet pilots

Decision to stop flying after Monday meet: Jet pilots

🕔10:02, 15.Apr 2019

Mumbai, April 15  The pilots’ union of Jet Airways has deferred its decision of “no pay no work” from Monday, citing the meeting of the SBI-led lenders’ consortium with the airline’s management on the same day. According to a member of

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DGCA, Aviation Secretary to meet PMO over Jet : Sources

DGCA, Aviation Secretary to meet PMO over Jet : Sources

🕔18:52, 12.Apr 2019

New Delhi, April 12 (IANS) The Director General of Civil Aviation (DGCA) and the Civil Aviation Secretary are likely meet officials of the Prime Minister’s Office (PMO) ahead in the day to update the PMO about the situation in Jet Airways,

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Naresh Goyal may bid for stake in Jet Airways

Naresh Goyal may bid for stake in Jet Airways

🕔10:01, 12.Apr 2019

New Delhi, April 12  In a new twist to the Jet Airway saga, its erstwhile promoter Naresh Goyal is said to be planning to bid for the airline from which he had to step down as chairman last month only.

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Jet Airways now operates 28 aircraft, says DGCA

Jet Airways now operates 28 aircraft, says DGCA

🕔07:08, 4.Apr 2019

New Delhi/Mumbai, April 4  India’s civil aviation regulator on Wednesday said that passenger carrier Jet Airways now operates a fleet of 28 aircraft. The Directorate General of Civil Aviation’s (DGCA) clarification came after several media reports cited that the airline

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Jet Airways: Share sale to new investors by June

Jet Airways: Share sale to new investors by June

🕔10:42, 26.Mar 2019

Mumbai, March 26  The lenders-intitiated resolution plan for Jet Airways will begin shortly and and is expected to be completed in the June quarter, the company said on Monday. “As part of the resolution plan, the lenders will provide an immediate

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Jet suspends 12 international services till April-end

Jet suspends 12 international services till April-end

🕔07:03, 23.Mar 2019

New Delhi/Mumbai, March 23  Jet Airways has suspended 12 international flights even as it grapples with a reduced fleet strength, industry insiders said on Friday. Sources said the airline has suspended operations to Hong Kong, Abu Dhabi, Riyadh, Dammam, Singapore,

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Closely monitoring developments at Jet Airways: Suresh Prabhu

Closely monitoring developments at Jet Airways: Suresh Prabhu

🕔11:37, 11.Mar 2019

New Delhi, March 11  “Government is closely” monitoring the situation at Jet Airways even as negotiations to save the financially beleaguered airline continue, Union Minister Suresh Prabhu said in an interview. The government’s stand assumes significance as lenders negotiate with

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