CHENNAI: Good Samaritans on social media — small and large businessmen — rose to the occasion on Friday and started to post job offers for employees of Jet Airways. Nearly 22,000 Jet employees are at risk of losing their livelihood after the beleaguered airline, facing headwinds on the funding front, was forced to halt all […]
Day: April 20, 2019
RIL to start gas production from R-Cluster in 2nd half of FY21
Reliance Industries has stated that it will start natural gas production from R-Cluster gas field in the flagging KG-D6 block in the Bay of Bengal from the second half of the 2020-21 fiscal. Reliance and its partner BP Plc of UK had in June 2017 announced an investment of Rs 40,000 crore in the three […]
India still not power-surplus nation; peak deficit at 0.8%, energy deficit at 0.6% in 2018-19
NEW DELHI: India has again missed the target of becoming an electricity-surplus nation by a whisker as its peak power deficit stood at 0.8 per cent and the overall energy deficit remained 0.6 per cent in 2018-19. In its load generation balancing report (LGBR) for 2018-19, the Central Electricity Authority (CEA) had pegged overall energy […]
Oil market likely to be well balanced in 2019, says Saudi energy adviser
Ibrahim al-Muhanna, an adviser to the Saudi energy minister, said on Friday he expected the oil market to be “well balanced” this year. “This year, we have seen the implementation of the OPEC Plus decision. It is possible to extend the cut until the end of the year depending on market conditions,” al-Muhanna told an […]
Boeing making ‘steady progress’ on certifying 737 Max software update: CEO Muilenburg
Boeing was making “steady progress” on the path to certifying of a crucial software update for the 737 MAX aircraft, CEO Dennis Muilenburg has said after two fatal crashes in recent months forced the grounding of the model, including by Indian carriers. He assured global airline industry that Boeing has also made the final engineering […]
Air India chief meets SBI chairman over leasing Jet Airways’ planes
Air India chairman Ashwani Lohani held preliminary talks with his State Bank counterpart Rajnish Kumar in the Capital Friday on the national carrier’s interest in leasing five Boeing 777s from the now-grounded Jet Airways, sources close to the development said. The meeting lasted for over more than an hour at the Airlines House, the headquarters […]
SpiceJet shares trim early gains; end 3% higher
SpiceJet stock trimmed most of its sharp early gains and ended nearly 3 per cent higher Thursday on profit-booking after rising for five consecutive days. The scrip had climbed 14.99 per cent to Rs 152.60 — its 52-week high — on the BSE during the day. Later, it closed at Rs 136.25, up 2.68 per […]
Jet Airways pilot shoots tough questions at management
NEW DELHI: An old-timer and veteran Jet Airways pilot Sudhir Gaur has blamed the management for keeping 22,000 employees in the dark over the turn of events that led to complete suspension of the airline’s operations leaving the staff in lurch. The senior captain, who has been with Jet Airways since its inception, has written […]
Passengers say they miss Jet flights
Jet Airways was grounded for the time being after flying for almost 26 years when its last flight, a Boeing 737, touched down at the Mumbai airport early on Thursday after departing from Amritsar. The country’s oldest private airline took off nearly 26 years ago from the airport here to Ahmedabad as an air taxi […]
Jet Airways shares tumble 10 pc
Shares of Jet Airways plunged 10 per cent in opening trade Thursday, a day after the ailing airline shuttered its operations temporarily. On the BSE, the scrip hit the lower circuit of Rs 217.70, a fall of 10 per cent compared to the previous closing level. Similar trend was witnessed on the NSE too, where […]
Lenders hopeful of successful bids for grounded Jet Airways
A day after Jet Airways suspended all its flights after running out of money, lenders to the carrier on Thursday said they were “reasonably hopeful” that bidding process for the airline would end successfully. Lenders led by the State Bank of India had declined to extend more funds to Jet, forcing it to suspend all […]
Jet Airways crisis: Lenders explore ways to utilise 15 Jet planes, protect valuable assets
Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said. As they wait for completion of the bidding process for stake sale, the domestic lenders, led by SBI, are looking at options […]