New Delhi, Feb 25 () An Air India employee, who was hit by an IndiGo bus carrying passengers to an aircraft at Bengaluru airport on Saturday evening, is “stable and improving” at a hospital, said the spokesperson of the national carrier Monday. In response to a specific query from about the employee’s health, Air India’s […]
Day: February 26, 2019
Jet Airways, Etihad Airways say Jet will re-emerge as viable, robust airline
New Delhi, Feb 25 () Jet Airways and Etihad Airways Monday said they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline. In a joint statement, the two carriers expressed confidence that once the plan is implemented, the Jet Airways would “re-emerge as a viable […]
Jet, Etihad say airline will ’emerge financially strong, resilient’
NEW DELHI: Abu Dhabi-based Etihad has for the first time officially acknowledged it is working for restructuring of Jet Airways to ensure the airline avoids a Kingfisher-like fate. Jet chairman Naresh Goyal and Etihad CEO Tony Douglas on Monday issued a joint statement, saying the airline’s restructuring is on and that the process will soon […]
Speedy conclusion of Indo-Russia diploma recognition pact will be helpful: Moscow Aviation Institute
New Delhi, Feb 25 () It will be very conducive if India and Russia can speedily conclude the agreement on mutual recognition of diplomas and degrees, said Mikhail Pogosyan, rector, Moscow Aviation Institute (MAI), on Monday. “I believe it will also be very conducive to have a speedy conclusion of this agreement of recognition of […]
SBI says no decision taken on moving NCLT against Jet Airways
New Delhi, Feb 25 () State Bank of India Monday said no decision has been taken on moving the National Company Law Tribunal (NCLT) against Jet Airways. On Sunday, officials associated with the lenders and key shareholders said SBI was considering moving the tribunal seeking insolvency proceedings against Jet Airways since it is running out […]
Oil steadies after selloff; market eyes Trump intervention
SYDNEY: OilNSE -0.14 % prices edged higher on Tuesday, finding steady ground after tumbling more than 3 per cent in the previous session when US President Donald Trump called on OPEC to ease its efforts to boost the market. International Brent futures were at $64.95 a barrel at 0108 GMT, up 20 cents, or 0.3 […]
Share market update: OMCs trade in the red; BPCL, HPCL among top losers
NEW DELHI: Most OMCs were in the red in Monday’s afternoon session with its sectoral index on BSE trading lower. The S&P BSE Oil & Gas index was trading 0.47 per cent down at 13,570.01 around 02:27 pm. Shares of Bharat Petroleum Corporation (down 2.33 per cent), Hindustan Petroleum Corporation (down 1.69 per cent), Oil […]
Jet Airways falls 5% on reports of SBI planning to move NCLT
NEW DELHI: Shares of Jet AirwaysNSE -1.66 % declined 5 per cent in early trade on Monday after reports emerged that SBI may approach NCLT to recover its loans from the debt-ridden airline. A PTI report, quoting SBI officials, suggested that State Bank of IndiaNSE -1.35 % (SBI) is looking at approaching the National Company […]
VVIP Chopper case: Delhi court grants bail to Rajeev Saxena
A Delhi court Monday granted bail to Rajeev Saxena, who was arrested in the Rs 3,600-crore AgustaWestland money-laundering case. Special Judge Arvind Kumar granted the relief to Saxena on furnishing a bail bond of Rs 5 lakh and two sureties of the like amount. The court also imposed certain conditions on Saxena and said he […]
IL&FS lenders to save Rs 10,000 crore in Q4 post NCLAT breather
MUMBAI: A bankruptcy appeals court ruling, which ordered Monday that no loan account of IL&FS and its units be put into the nonperforming category without its approval, would save lenders about Rs 10,000 crore in March-quarter provisioning costs, two people aware of the development said. A two-judge bench of the National Company Law Appellate Tribunal […]
Don’t classify IL&FS accounts as NPAs sans nod: NCLAT
New Delhi: An appeals bench dealing with bankruptcies said Monday that exposure to IL&FS and its units can’t be treated as a non-performing loan until the court itself declared such debt as bad, giving relief to high-street banks and funds that had advanced cash to the stressed infrastructure financier. “No account of the IL&FS or […]
Prices soar 53% after CIL diverts coal to power companies
Kolkata: Coal India’s e-auction prices rose about 53% in the December quarter, when the company offered half the quantity it did a year ago after diverting supplies to power plants. It offered 14.65 million tonnes of coal during the quarter against 30.8 million tonnes a year earlier. As a result, average prices rose to Rs […]