Crisis-hit Jet Airways may come out with a rights issue that could see the participation of promoter Naresh Goyal and Etihad. The board of the full service carrier had approved a bank-led resolution plan (BLPRP) on Thursday to plug a funding gap of around Rs 8,500 crore. While this includes equity infusion apart from debt […]
Category: Civil Aviation
Two more AI flights to link Aizawl
Air India, the only airline currently operating between Aizawl and Calcutta, will start services on two more routes, Aizawl to Guwahati and to Delhi from March, sources said on Thursday. State BJP spokesperson Johny Lalthanpuia said civil aviation minister Suresh Prabhu had promised to introduce Air India flights to Delhi and Guwahati from Aizawl during […]
How can audit report not have figures: Chidambaram
The Congress on Thursday said the Comptroller and Auditor General of India had failed the people of the country by giving an audit report on the Rafale deal without specific numbers as it “meekly submitted to the unprecedented demand” of the government. “What will an auditor do without numbers? The CAG should have told the […]
Lenders to get Jet Airways majority stake after debt rejig
Lenders will get a majority stake in Jet Airways as they convert their debt into equity to revive the crisis-hit airline, which has a funding gap of over Rs 8,500 crore. Banks led by the State Bank of India (SBI) will now occupy the cockpit of the airline as they get a 50 per cent […]
VVIP chopper case: Delhi court grants 7-day interim bail to Rajeev Saxena
A Delhi court on Thursday granted seven days interim bail to Rajeev Saxena, who was arrested in the Rs 3,600-crore AgustaWestland money-laundering case, on two sureties of Rs 5 lakh each. Special judge Arvind Kumar, while granting Saxena bail, asked AIIMS to file a detailed medical report on his health and posted the matter for […]
Talk of cash infusion by lenders on eve of Jet Airways board meet
The board of Jet Airways will meet on Thursday to consider the third-quarter results amid a buzz that the crisis-hit airline may announce cash infusion by lenders, led by the State Bank of India (SBI). Optimism on this front saw the Jet stock ending with gains of 1.25 per cent at Rs 223.60 on the […]
Rahul sees a ‘frightened’ Prime Minister, Sonia warns Opposition against complacency
As the 16th Lok Sabha’s last session ended on Wednesday, Congress president Rahul Gandhi saw a “frightened” and “demoralised” Prime Minister running for cover but Sonia Gandhi warned the Opposition against complacency, predicting that the ruling establishment could stoop to any low to retain power. Rahul told a media conference: “The psychological impact of the […]
Report on Rafale not worth its paper: Rahul
Congress president Rahul Gandhi on Wednesday dismissed the Comptroller and Auditor General of India’s report on the Rafale deal as “not even worth the piece of paper it is written on” as it does not reflect on critical information about the negotiations and pricing details. Addressing a media conference, Rahul said: “Why is this document […]
Post-CAG, Rafale still a riddle
he Comptroller and Auditor General (CAG) report on the Rafale deal, tabled in Parliament on Wednesday, has been seized by the Narendra Modi government to claim vindication and the Opposition to dismiss it as “not even worth the paper it was written on”. Some of the highlights of the report after a quick reading follow: […]
Current Rafale deal for 36 jets 2.86 per cent cheaper than price during UPA rule: CAG
The Rafale deal signed by the Modi government to procure 36 fighter jets from France’s Dassault was 2.86 per cent cheaper than what was negotiated during the UPA regime in 2007, the much-awaited CAG report on the controversy-hit transaction showed on Wednesday. Without disclosing pricing details in absolute terms, the Comptroller and Auditor General (CAG) […]
Ravi Shankar Prasad calls Rahul a lobbyist
The BJP on Tuesday accused Rahul Gandhi of being a “lobbyist of competitive plane supplier companies”. “It is our very serious charge with full sense of responsibility that Rahul Gandhi is working as a lobbyist of competitive plane supplier companies,” law minister Ravi Shankar Prasad said. The retort was in response to Rahul Gandhi’s fresh […]
Rahul Gandhi alleges treason by Narendra Modi
Congress president Rahul Gandhi on Tuesday accused Prime Minister Narendra Modi of acting as a middleman for Anil Ambani in the Rafale jet deal. He cited an email to claim that the businessman was aware of the MoU before India and France signed it. Ambani’s knowledge of a defence deal under preparation, which even the […]