Lenders to crippled Jet Airways said Monday they would start bankruptcy court proceedings after failing to find someone to take over the Indian carrier. Once India's biggest private airline, Jet stopped operating in April after it ran out of cash and its planes were grounded. Doubts have mounted since over whether the carrier will fly again. The airline's creditors, who are owed more than $1 billion, said after a meeting in Mumbai that only one "conditional" offer has been received for Jet Airways. That is believed to have come from Abu Dhabi-based Etihad Airways, which already had a 24 percent stake in Jet. The creditors, led by State Bank of India, said the meeting decided to turn to India's insolvency and bankruptcy code (IBC). "After due deliberations, lenders have decided to seek resolution under (the) IBC since only a conditional bid was received," the lenders said in a statement. They added the bidder had sought "exemptions" on pricing from the Security and Exchange Board of … [Read more...] about Jet Airways lenders to go to bankruptcy court
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Jet Airways suspends all flights
Business 18 April 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-47963536 Read more about sharing. These are external links and will open in a new window Close share panel Troubled Indian airline Jet Airways has temporarily suspended all its domestic and international flights after failing to find fresh … [Read more...] about Jet Airways suspends all flights
Jet Airways lenders hope bidding process can save airline
Jet Airways lenders hope bidding process can save airline BelfastTelegraph.co.uk Creditors of India’s beleaguered Jet Airways have said they are “reasonably hopeful” a bidding process with potential investors for a controlling stake in the airline will save the company. https://www.belfasttelegraph.co.uk/news/world-news/jet-airways-lenders-hope-bidding-process-can-save-airline-38028440.html https://www.belfasttelegraph.co.uk/news/world-news/article38028438.ece/7a31b/AUTOCROP/h342/bpanews_36231b99-6543-4c68-9832-124852f3bebb_1 Email Creditors of India’s beleaguered Jet Airways have said they are “reasonably hopeful” a bidding process with potential investors for a controlling stake in the airline will save the company. That was also the mood in Mumbai, where a group of employees gathered outside the carrier’s headquarters demanding to know if their jobs were secure. A consortium of 26 lenders led by the State Bank of India released a … [Read more...] about Jet Airways lenders hope bidding process can save airline
Jet Airways halts all international flights
Business 12 April 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.com/news/business-47905089 Read more about sharing. These are external links and will open in a new window Close share panel Passengers are stranded in India and around the world after Jet Airways suspended all international flights.Flights from London, Paris and … [Read more...] about Jet Airways halts all international flights
The riches to rags story of India’s Jet Airways
India 23 March 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/world-asia-india-47664059 Read more about sharing. These are external links and will open in a new window Close share panel For a long period of time, especially during the late 1990s and 2000s, Jet Airways was the shining face of Indian aviation. But now it … [Read more...] about The riches to rags story of India’s Jet Airways