MUMBAI: Potential investors for the grounded carrier Jet Airways — Etihad Airways, TPG Capital and Indigo Partners — are having second thoughts on whether to bid for it as questions about the bidding procedure remain unanswered.The lenders selected Etihad, TPG, Indigo Partners and National Investment and Infrastructure Fund as qualified bidders for Jet.
In a statement issued, AITUC expressed its solidarity with the Jet Airways employees, who are made to pay the heavy price for the central government’s policies.NEW DELHI: The All India Trade Union Congress has urged government to absorb the employees of Jet Airways holding the latter entirely responsible for the job losses following the end of operation of Jet Airways.
MUMBAI: Jet Airways is in talks with the International Air Transport Association (IATA) to clear some refunds from the money still saved in the billing and settlement plan (BSP) account, a person in the know said on Friday.Every seven days an agent makes a lump-sum payment of money from tickets sold into the BSP account which then goes to the airline.
The government will now allot 280 slots at Mumbai and 160 at Delhi as well as those at other airports to Indian carriers for three months.The Maharaja wants to start five additional flights — Mumbai to London and Dubai, and Delhi to London, Dubai and Singapore.
While passenger woes have been highlighted in the media, the impact of the near-collapse of a big company that employs over 14,000 people goes much deeper.Since January, Jet has deferred pay cheques for those in the high-income bracket but in March, salaries dried up for everyone.
Since January, Jet has deferred pay cheques for those in the high-income bracket but in March, salaries dried up for everyone.Sukhbir Singh, 45, who works as Jet’s loader supervisor at Delhi airport, says his finances are already fraying.
Industry insiders fear that in peak election season, the government will let Jet’s revival plan stutter before letting it quietly die.Getty Images
Jet Airways' employees protest outside New Delhi's Indira Gandhi International Airport over delay in salaries, on April 13, 2019.
MUMBAI: A cluster of three companies said to represent Jet Airways founder Naresh Goyal has withdrawn from the bidding process for the distressed airline after Etihad Airways and TPG Capital threatened to walk out of the deal if Goyal was part of it.An EoI from him hence may have come as an unpleasant surprise for Etihad.
International Consolidated Airlines Group owns British Airways, Iberia and Aer Lingus, among other airlines.ET
International Consolidated Airlines Group
appointed the chief financial officer of its British Airways unit as the airline operator’s new finance chief.
01 PM ISTAgenciesThe pilots union had sent a legal notice to Jet Airways CEO on Tuesday.Around 1,100 pilots belonging to crisis-hit Jet Airways' pilots body National Aviator's Guild (NAG) have decided not to fly from 10 am Monday in protest against "non-payment of salary dues, a source said Sunday.
Thousands of flyers who have booked Jet’s international flights and have now been left in the lurch.They had bought Mumbai-London-Mumbai tickets on Jet Airways and were supposed to leave on Monday.
The management will meet lenders tomorrow with a fresh plan to request for the promised emergency infusion of Rs 1,500 crore.Around the same time on Monday, the airline’s pilots and other employees will gather at Jet’s Mumbai headquarters to decide the future course of action.
MUMBAI: Jet Airways founder Naresh Goyal filed an expression of interest (EoI) for a stake in the ailing carrier just as the deadline for submissions was coming to an end on Friday, said two people with knowledge of the matter.The move is said to have flummoxed lenders, who have put the equity on sale as part of a rescue plan for the airline.
Cash-strapped Jet Airways has for now suspended all its international flights and continues to cut down on domestic operations, raising doubts about its survival.Between Wednesday and Thursday, it cancelled flights to Singapore and Kathmandu.
Overseas holidays are set to go for a toss this summer with the debt-ridden Jet Airways cancelling all its international flights.“This is a very unfortunate situation for all three: the airline, customers, and OTAs.
Technology|Jet Airways, a Pioneer in India’s Skies, May Stop FlyingImageJet Airways, which canceled its international flights on Friday through at least Monday, grounded dozens of planes over the past few weeks as its finances deteriorated.CreditCreditFrancis Mascarenhas/ReutersMUMBAI, India — Jet Airways, which revolutionized Indian aviation after the government ended the monopoly of state-owned carriers, is now on the brink of shutting down, devastated by management missteps and the feisty low-cost airlines that followed in its footsteps.
However, the lenders have extended the Wednesday deadline by two days, in the hope that Etihad Airways, which hasn’t submitted an EoI, will show interest.TATA GROUP NOT TOO KEEN
Etihad’s board is supposed to take a decision on whether to invest further in Jet.
Of the 14 aircraft, eight are wide-body planes generally used for long-haul international operations, the source said.44 PM ISTAgenciesSince Jet Airways plans to operate only four small planes including three B737s, the number of its flights on domestic routes is expected to decrease drastically.
The bidding norms allow Goyal to participate in the sale process.Former Jet Airways chairman Naresh Goyal is not out of Jet Airways yet.
The document for the expressions of interest will uploaded on the websites of SBI and SBI Capital Markets, which is overseeing the process.MUMBAI: Jet Airways' lenders, led by the State Bank of India, will invite expressions of interest from investors tomorrow (Monday) to bid for a stake in the stressed airline.