In the days after a Boeing Co. 737 Max 8 jet plunged into Indonesia’s Java Sea last October, company officials said they were moving quickly to update plane software suspected in the crash. Six months and a second Max 8 disaster later, Boeing has yet to submit its fix to regulators. Last week, pilots and […]
Day: April 20, 2019
Jet Airways crisis set to reset India’s aviation industry
Mumbai: Jet Airways (India) Ltd’s decision to halt operations from Wednesday evening for want of funds is set to rattle the world’s fastest-growing aviation market with its adverse impact on other businesses in the value chain as well as thousands of jobs. The outcome would also have a ripple effect on competition, fares and customers […]
SpiceJet, IndiGo stocks have run up too fast, too soon: Analysts
The gradual descent of Jet Airways’ operations over the past few months has proved to be a boon for the other players who are not only looking to capture the temporarily out of service airlines’ market-share, but also benefit from the soaring ticket prices. The markets have been quick to respond to the development. SpiceJet […]
This helicopter company stock zooms 112% in six weeks
Shares of Global Vectra Helicorp surged 9 per cent to Rs 127 in the intra-day trade on Thursday, gaining 53 per cent in the last one week on the BSE, on expectation of strong earnings growth. The stock was trading close to its 52-week high of Rs 131 on April 23, 2018 on the BSE. […]
Over 10,000 retail shareholders bought Jet Airways stock in last 6 months
Retail investors have been buying into Jet Airways’ shares over the past six months, despite increasing signs of strain at the airline. Jet Airways stopped flying on Wednesday after State Bank of India (SBI) and other lenders said that they wouldn’t provide any more money to keep the airline afloat. In a situation reminiscent of […]
‘Can’t sleep at night’: Jet employees in despair as airline goes bust
Bhoja Poojari has handled baggage for India’s Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis. “If this continues, I do not know what to do,” said the 53-year-old father of two, who has not […]
GVK signs pact with ADIA, NIIF to offer 49% stake in Airport Holdings
GVK Power and Infrastructure Ltd Thursday said it agreed to offer 49 per cent stake in GVK Airport Holdings Ltd in favour of Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF). In a filing with BSE, the city-based infra major said the transaction is subject to conclusion of confirmatory due […]
With Jet suspending ops, govt to allot 440 vacant slots to other airlines
With Jet Airways suspending operations, as many as 440 slots are vacant at Delhi and Mumbai airports which will be allocated to other airlines in a transparent manner, a senior official said. The grounding of planes by Jet Airways has resulted in capacity reduction in the domestic sector, which has also led to a spurt […]
Birla MF looks to parachute out of Jet Airways’ crashing stock
Birla Sun Life Mutual Fund (MF) — the only fund house holding Jet Airways shares in its actively managed schemes — off-loaded Rs 13 crore worth of shares in the troubled airline, in a bulk deal on Thursday. According to data from the NSE, ‘Birla Mutual Fund Scheme’ sold 759,000 shares of the company at […]
In a bid to attract buyers, banks ask govt to protect Jet’s prime slots
The lenders’ consortium, led by State Bank of India, has sought protection of prime airport slots of Jet Airways so that the value of the suspended airline does not erode further. In a communication to the Ministry of Civil Aviation, the lenders have made a case for protecting the Jet slots. “Adequate number of slots […]
Jet Airways loses IATA membership; refund process may get affected
International airlines lobby IATA Thursday suspended the grounded Jet Airways from the membership of its clearing house system, a move that is likely to impact the refund process to passengers. The suspension of membership, which comes in the wake of the airline halting operations temporarily from last night, is with immediate effect, the International Air […]