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Jet Airways

Jet Airways Insolvency: JKC withdraws plea to put Rs 200 crore in escrow after NCLAT refuses relief

Jet Airways Insolvency: JKC withdraws plea to put Rs 200 crore in escrow after NCLAT refuses relief

Tue, May 28, 2024

The withdrawal comes after the National Company Law Appellate Tribunal (NCLAT) refused to give any relief to JKC. An NCLAT bench headed by Chairman Justice Ashok Bhushan said the matter is already before the Supreme Court.

Air India appoints Jayaraj Shanmugam as head of global airport operations

Air India appoints Jayaraj Shanmugam as head of global airport operations

Mon, Apr 08, 2024

Shanmugam was the chief operating officer at the Bangalore International Airport Ltd (BIAL) and led the operationalisation of the new terminal 2.

NCLAT upholds Jet Airways transfer of ownership to Jalan Kalrock

NCLAT upholds Jet Airways transfer of ownership to Jalan Kalrock

Tue, Mar 12, 2024

"The impugned order passed by Adjudicating Authority (NCLT Mumbai) dated 13.01.2023 is upheld," said a two-member NCLAT bench. Besides, it has also directed the lenders of Jet Airways to adjust the Rs 150 crore paid by the consortium as performance bank guarantee (PBG).

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Naresh Goyal seeks Rs 750-cr lifeline from Etihad, warns delay may ground Jet Airways

Naresh Goyal seeks Rs 750-cr lifeline from Etihad, warns delay may ground Jet Airways

Mon, Mar 11, 2019

On February 14, the airline's board had approved a debt recast plan whereby the lenders would become the largest shareholders in the airline by converting the debt into equity at a nominal price of Re 1.

Jet Airways shares jump over 4 per cent after PNB loan

Jet Airways shares jump over 4 per cent after PNB loan

Mon, Mar 11, 2019

Under one agreement, Jet Airways received a credit facility of Rs 1,050 crore, and a non-fund based facility of Rs 700 crore. The other agreement has a credit facility of Rs 1,000 crore that includes a term loan of Rs 750 crore and a non-fund based facility of Rs 250 crore, the report added.

Jet Airways crisis: Big relief! Airline receives Rs 2,050-cr loan from PNB

Jet Airways crisis: Big relief! Airline receives Rs 2,050-cr loan from PNB

Mon, Mar 11, 2019

In a big relief, cash-strapped Jet Airways has reportedly secured fresh loans of Rs 2,050 crore from state-run Punjab National Bank (PNB).

On Women's Day, Air India, Jet Airways and SpiceJet to operate all-women crew flights

On Women's Day, Air India, Jet Airways and SpiceJet to operate all-women crew flights

Fri, Mar 08, 2019

Air India will be deploying its B787 Dreamliners and B777s to operate 12 international medium and long-haul flights operated by women pilots and attended by women cabin crew on the day.

Debt recast plan includes board composition, says Jet Airways

Debt recast plan includes board composition, says Jet Airways

Sat, Mar 02, 2019

Beleaguered carrier Jet Airways Friday said its debt recast plan also contemplates appropriate governance structure including board composition, among other measures.

Jet Airways removes 2 more planes from ops,21 on ground so far

Jet Airways removes 2 more planes from ops,21 on ground so far

Sat, Mar 02, 2019

Financially-stressed Jet Airways Friday said two more of its aircraft have been grounded due to non-payment of lease rentals.

Jet Airways founder Naresh Goyal urges employees to bear with him in difficult situation

Jet Airways founder Naresh Goyal urges employees to bear with him in difficult situation

Fri, Mar 01, 2019

His letter came a day after reports emerged that he has agreed to step down from the chairmanship of the loss-making carrier, in which lenders have now become the largest shareholders.

'Only banks, financial institutions exempt from open offer in corporate debt restructuring'

'Only banks, financial institutions exempt from open offer in corporate debt restructuring'

Fri, Mar 01, 2019

Under SEBI's takeover code, any firm acquiring control in a listed company, or when its stake crosses 25 per cent, must make an open offer to its minority investors.

Tough times for Jet Airways: No help from Naresh Goyal, Etihad Airways; lenders only hope left even as stock rises

Tough times for Jet Airways: No help from Naresh Goyal, Etihad Airways; lenders only hope left even as stock rises

Fri, Mar 01, 2019

Shockingly, investors faith has been restored due to buzz, that the airline’s man-in-charge Naresh Goyal has agreed to step down from the board.

Jet Airways founder Naresh Goyal agrees to step down as chairman: Source

Jet Airways founder Naresh Goyal agrees to step down as chairman: Source

Thu, Feb 28, 2019

The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways Chief Executive Officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.

Jet Airways shares plunge over 6 pc after co grounds 7 more planes

Jet Airways shares plunge over 6 pc after co grounds 7 more planes

Thu, Feb 28, 2019

In a filing to the stock exchanges Wednesday, the full-service airline said "an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements".

Jet Airways grounds several aircraft, services hit

Jet Airways grounds several aircraft, services hit

Thu, Feb 28, 2019

According to the official, the airline did inform the Directorate General of Civil Aviation (DGCA) about the grounding and the regulator is monitoring the situation.

Airfare alert! How flight cancellations impacted Indigo, Jet Airways and others - Flight ticket prices set to 'fly'? Analysis here

Airfare alert! How flight cancellations impacted Indigo, Jet Airways and others - Flight ticket prices set to 'fly'? Analysis here

Wed, Feb 27, 2019

Although other airlines like SpiceJet, GoAir, Vistara, AirAsia and Air India faced some heat of flight cancellation as well, but Indigo and Jet Airways suffered most.

Jet Airways pilots to stick to roster hours from March 1; operations to be hit

Jet Airways pilots to stick to roster hours from March 1; operations to be hit

Tue, Feb 26, 2019

Jet Airways' operations are likely to be hit from next month with its pilots union NAG deciding to adhere to the duty roster from March 1 over non-payment of salaries, union sources said Monday.

Reports of taking Jet Airways to NCLT still speculative: SBI

Reports of taking Jet Airways to NCLT still speculative: SBI

Mon, Feb 25, 2019

Jet Airways' largest lender, State Bank of India (SBI), said media reports that it was weighing taking the debt-laden carrier to an insolvency tribunal to recoup loans were "speculative", and that no such decision had been taken.

Jet Airways share drops by 5%; SBI shrugs off NCLT news on debt recovery

Jet Airways share drops by 5%; SBI shrugs off NCLT news on debt recovery

Mon, Feb 25, 2019

Reason behind tumble in this airline’s share price is due to various buzz involving SBI moving to NCLT bench for debt recovery from this airline, while another report highlights that pilots are warning for non-cooperation over new resolution plan.

SBI weighs NCLT route for recovery of loans from Jet Airways

SBI weighs NCLT route for recovery of loans from Jet Airways

Sun, Feb 24, 2019

Officials associated with the lenders and key shareholders said the SBI is considering moving the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Jet Airways since it is running out of money for operations.

Flyers alert! Jet Airways is offering up to 50 per cent on flight tickets under its 'Love-A-Fare' sale

Flyers alert! Jet Airways is offering up to 50 per cent on flight tickets under its 'Love-A-Fare' sale

Thu, Feb 21, 2019

Under Jet Airways' 'Love-A-Fare' sale, the airline is offering 50 per cent on domestic and international flights. According to the airline, the discount is on applicable on both their Indian and international network on both one way and round trip tickets.

Kingfisher Airlines escaped, Jet Airways trapped! The cost of defaulting is Re 1

Kingfisher Airlines escaped, Jet Airways trapped! The cost of defaulting is Re 1

Thu, Feb 21, 2019

Fate of Jet Airways is similar like Kingfisher ones, when it comes to repaying debt. But interestingly, Kingfisher still escaped the new method of repaying debt.

Will IndiGo gain from Jet Airways crisis? Detailed analysis and experts' take

Will IndiGo gain from Jet Airways crisis? Detailed analysis and experts' take

Tue, Feb 19, 2019

Experts and analysts have been very optimistic on Indigo, for its good performance in passenger load factor, PAX, cash reserves, low debt, on-time performance and much more. In fact, Indigo was definitely seen as the real winner in Jet Airways debt crisis.

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