The scramble to save Jet Airways has led its lenders to explore unsolicited offers made by multiple entities, including UK-based entrepreneur Jason Unsworth, Mumbai-based Darwin Platform Group, London-based AdiGro Aviation and Russian aviation professional Oleg Evdokimov. It is also considering a takeover proposal from a group of minority shareholders and Jet employees. Under the plan,called […]
Category: Civil Aviation
Airlines focussing on India are now doing a ‘class’ act
In this era of intense competition, international carriers are going all out to woo more flyers from India. The latest measure that some airlines are trying out is reconfiguring their aircraft to provide more seats in the premium economy cabin on their flights to and from India. After Singapore Airlines, Lufthansa and British Airways, Virgin […]
Jet Airways shares continue to fall; plummet over 7%
Shares of Jet Airways on Tuesday plunged over 7 per cent, its second day of decline, after the company’s deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned. The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE. During the day, it plunged 12.44 per cent to Rs […]
Do not cancel passes of Jet airport staff: RLC to Civil Aviation Ministry
The Regional Labour Commissioner (RLC) has advised the Civil Aviation Ministry and the Bureau of Civil Aviation Security to not cancel any airport passes of Jet Airways’ employees. On the basis of a complaint filed by Bhartiya Kamgar Sena, a Shiva Sena-affiliated union, the RLC had called a meeting on Monday. While no representatives from […]
Jet terminates 50 employees at international destinations
Jet Airways has terminated over 50 local and Indian employees in South East Asia, West Asia, Europe and UK. Mohammad Mansoor, Customer Service Executive, Doha region, said, “We are 10 permanent and contractual employees in the Doha region and all of us including the country manager got the termination letter. All our reservations and sales […]
Jet CEO, other executives quit; wobbling airline seems set to crash-land at NCLT
Top executives of Jet Airways including its Chief Executive Officer have resigned from the company in an indication that the airline may be heading towards insolvency proceedings. CEO Vinay Dube; CFO Amit Agarwal; Company Secretary and Compliance Officer Kuldeep Sharma; and Chief People Officer Rajhul Taneja have quit the company, citing personal reasons. This comes […]
Flynas introduces direct flights between Riyadh and New Delhi
Flynas, a low cost Saudi national air carrier, has announced plans to launch five direct flights between Riyadh and New Delhi from July 1, 2019. These flights are being introduced as a part of the airlines global expansion strategy, the airline said in a statement. To cater to the growing demand for direct flights from […]
Etihad’s offer not good enough to revive Jet
Lenders to Jet Airways are discussing the possibility of forming a consortium between Etihad Airways and two other entities who had submitted unsolicited expressions of interest after the deadline for bidding had expired. This comes after SBI opened the bid submitted by the Etihad on Monday and found it way short of expectations. “Etihad was […]
Lockheed Martin says F-21 jets will not be sold to any other country if it bags IAF deal
US aerospace giant Lockheed Martin says it will not sell its newly rolled out F-21 fighter jet to any other country if India places an order for 114 planes, in an offer aimed at pitching itself ahead of its US, European and Russian competitors for the mega deal. Vivek Lall, vice president of Strategy and […]
Jet Airways slumps after reports of Etihad’s non-binding offer
Shares of Jet Airways Ltd fell as much as 11.4 per cent on Monday after media reports said a buyout offer from West Asian carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier. Etihad, which owns about 24 per cent stake in Jet, submitted a bid for the […]
Will Etihad re-ignite Jet Airways?
Shares of Jet Airways will continue to remain in focus, as Etihad Airways is interested in the embattled carrier for a minority stake. However, this is subject to certain conditions, a spokesman for Etihad said on Friday. “Etihad re-emphasises that it cannot be expected to be the sole investor, and that, amongst other requirements, additional […]
GMR to develop Business Park in Hyderabad
An exclusive business park will be built at the GMR Airport City here with an investment of Rs. 350 crore. Launching the first of the six towers with a rental space offering of 2.4 lakh sq ft on Friday, which will be ready for occupation by the year-end, Aman Kapoor, CEO, GMR Airport Land Development, […]