Aviation, Science and Technology, Sports, Renewable Energy
It’s unclear whether the airline will ever operate, but if it does so, it will be under a new owner. This, at the moment, seems highly unlikely as lenders themselves are reluctant to put more money and they scurry to find a willing investor with deep pockets to pour new money into the airline.
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Lenders to the crisis ridden Jet Airways India Ltd. did not see any reason to infuse more money, they finally refused to bail out the cash-strapped carrier. The bankers have confirmed that there’s no money coming in for now. Though the matter has not yet officially been disclosed, the signs are clearly visible.
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Normally, airlines in India compete fiercely with each other to sell tickets in advance and fill seats during the peak summer travel season. This, to a large extent, also takes care of their working capital requirements. But airline operators in India are presently facing a different problem: scarce planes and booming demand. Moreover, the grounding […]
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Predicting a landslide victory for the ruling BJP in the ongoing Lok Sabha polls, Prime Minister Narendra Modi on Sunday said that there is a powerful wave in favour of the saffron party which is all set to win thrice the seats that Congress will get. Addressing an election rally in Kathua in Jammu and […]
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Jet Airways pilots couldn’t implement their ‘no pay, no work’ call, wait for lenders to meet, hope some fund infusion from them; more time elapses Mumbai: Cash-strapped Jet Airways on Sunday somehow averted a deeper crisis after its pilots body, the National Aviatior’s Guild, deferred its “no flying” call to a later date from Monday, […]
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Too little too late: Jet Airways lenders shortlist 4 suitors. Mumbai: Etihad Airways PJSC, India’s National Investment and Infrastructure Fund (NIIF) and private equity firms TPG Capital and Indigo Partners were shortlisted on Monday to place binding bids for Jet Airways (India) Ltd. Even then, there is no clarity on the eligibility of founder Naresh […]
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BENGALURU: The candidates of both the BJP and the Congress in the prestigious constituency of Bengaluru South are in a way new faces to voters. While the BJP debutant Tejasvi Surya, 28, was known largely inside the Sangh Parivar circles, Congress leader BK Hariprasad, 64, originally from Malleshwaram, made Delhi his home long ago, keeping […]
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India’s oldest private airline Jet Airways, which is operating on a skeletal schedule with just five aircraft due to its critical liquidity position, Tuesday said it is talking to its lenders for emergency funding to “arrest further deterioration of its services”. Civil Aviation Secretary Pradeep Singh Kharola, who reviewed the situation, said the airline has […]
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NEW DELHI — Lenders to Jet Airways are discussing ways to revive the crisis-hit carrier and fresh funds are likely to be infused shortly, officials said on Tuesday. Amid acute financial crunch crippling its operations, Jet Airways management is awaiting clarity on receiving fresh funds after which a decision would be taken on continuing operations. […]
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British believed that the Indians can always be relied upon to ruthlessly put down any one
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