Confirming the receipt of information about Jet stopping all operations, the civil aviation ministry said in a series of tweets that the bank-led resolution process is still underway and expected to end by May 10.
Jet CEO Vinay Dube had indicated to the lenders — led by State Bank of India — it would be impossible to continue to operate the airline in the absence of some emergency funding of around Rs 400 crore. However, till the t
The full-service carrier operated just 6-7 planes of its fleet of 119 aircraft on Monday. Civil aviation rules in India require an airline to operate a minimum of five aircraft to keep its operating permit valid.
The Adanis had looked at investing in budget carrier SpiceJet about five years back, when the then promoter, Kalanithi Maran, was scouting for a buyer as the Marans wanted to exit the business.
Naresh Goyal, chairman and promoter of Jet Airways, in a letter to his employees on Monday said that the situation at the carrier, though complex, has his personal attention and a resolution process will take a further short
Etihad board is believed to be in two minds on extending an interim funding of Rs 750 crore to Jet Airways, ahead of regulatory approvals to the bank-led resolution plan from the civil aviation ministry, Securities and Exchan
In a signing off that said a lot which Goyal did not spell out, as he did not say that fresh detailed update (on he airline’s future) will be coming from him but through Jet’s management team.
Jet Airways, which has a secondary hub at Delhi, operates about 100 domestic and 40 international flights from Delhi airport, and if majority of pilots decide not to fly, there is a possibility of major disruption of flight s
IndiGo, which recently cancelled several flights and said its schedules would be disrupted till March, seems to have expanded at a fast pace but failed to hire pilots at a similar rate, leading to a crew shortage that has res
Vistara will complete five years of operations next year but it has applied permission under the 0/20 rule that would have permitted it to go international before five years.
In a media interaction on Jet’s debt restructuring, SBI chairman Rajnish Kumar had said, “The outline is ready but implementation depends on government and regulatory approvals.”
Jet Airways promoter-chairman Naresh Goyal is understood to have approached the Adani Group with a proposal to invest in his ailing airline, which is in dire need of funds. As is known, Jet was earlier in talks with Tata Grou
Domestic lenders of the beleaguered carrier Jet Airways, led by State Bank of India, are understood to have proposed a Rs 2,500-crore resolution plan comprising fresh equity infusion and restructuring of the current loan at a
Cash-strapped Jet Airways, which has defaulted on loan repayment to banks due on December 31, will be meeting its vendors and creditors including lessors, MRO partners, among others, on Tuesday in Mumbai to impress upon them
Stumped by the directives Indian operators, budget airlines IndiGo and GoAir were forced to ground a part of the fleet, reassess their expansion on this aircraft type, pay more for maintenance and still grappling with an unre
Gregory Taylor was appointed senior adviser reporting to co-founder Rahul Bhatia directly in April this year after the much-hyped and surprise exit of IndiGo president Aditya Ghosh
